When the government runs a deficit, it will:
A. raise taxes immediately.
B. buy bonds to finance the deficit.
C. sell bonds to finance the deficit.
D. reduce the money supply to finance the deficit.
Answer: C
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Demand pull inflation can be started by
A) a decrease in net exports. B) an increase in government expenditure. C) a decrease in the money price of resources. D) an increase in the price of oil. E) a decrease in the quantity of money.
The second phase of the industrial revolution first took place in ______ (a country) in the _______ (decade).
Fill in the blank(s) with the appropriate word(s).
Minimum-wage laws are precise policy instruments that can specifically target workers whose family incomes are low
a. True b. False Indicate whether the statement is true or false
Total cost minus total variable cost equals:
A. marginal cost. B. total fixed cost. C. average fixed cost. D. average variable cost.