In the face of the 2007-2009 recession, the President, Congress, and the Fed
a. decided to rely on the self-correcting mechanism of the economy to eliminate inflation.
b. decided to rely on the self-correcting mechanism of the economy to reduce unemployment.
c. pursued an active policy to balance the budget and fight inflation.
d. pursued an active policy to expand aggregate demand.
d
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An increase in aggregate demand normally does not cause inflation
a. True b. False Indicate whether the statement is true or false
Which of the following is the formula for marginal revenue?
a. MR = ?AR x ?q b. MR = ?AR ÷ ?q c. MR = ?TR ÷ ?q d. MR = ?TR x ?q
When the curve that envelops the series of possible short-run average total cost curves is horizontal, this means that there are:
A. economies of scale. B. diseconomies of scale. C. constant returns to scale. D. diminishing returns.
Assuming a market interest rate of 6 percent per year, what is the present value of $5,000 payable at the end of three years?
A) $4,717 B) $4,450 C) $4,198 D) $4,317