A microeconomist would study
a. a general decline in prices
b. a rise in tea prices.
c. the ups and downs of business cycles
d. the impact of national tax policies
Ans: b. a rise in tea prices.
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Which of the following is correct?
A. The Fed has very good control over the money supply and bank reserves. B. The Fed has very poor control over the money supply and bank reserves. C. The Fed has very good control over bank reserves but not over the money supply. D. The Fed has very good control over the money supply but not over bank reserves.
Suppose the interest parity condition holds and that the domestic interest rate is less than the foreign interest rate. What does this imply about the current versus future expected exchange rate? Explain
What will be an ideal response?
According to supply-side economics, changes in marginal tax rates will have which of the following effects?
A. change the incentive to work B. change the incentive to invest C. change the incentive to save D. all of these
Collusion is more likely to occur when
A) there is fear of punishment for not colluding. B) there is a known finite time horizon. C) there are large gains to be made by cheating on an agreement. D) the game lasts only one period.