What is called for with heterodox stabilization policies?
What will be an ideal response?
Calls for government spending cuts, tax reform, control over money supply growth, and also wage and price freezes to fight inflation and to reduce inflationary expectations
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A weakening in consumer confidence causes a
A) shift of the aggregate demand curve to the right. B) movement down along the aggregate demand curve. C) shift of the aggregate demand curve to the left. D) movement up along the aggregate demand curve.
A long-run expansion in capacity
A. Moves the economy to a point closer to its existing production possibilities curve. B. Shifts the production possibilities curve rightward. C. Moves the economy upward to the left along its existing production possibilities curve. D. Shifts the production possibilities curve leftward.
Suppose that Figure 10.4 shows a monopolist's demand curve, marginal revenue, and its costs. The monopolist would maximize its profit by charging a price of:
A. $35. B. $25. C. $20. D. $16.
Economic profits are equal to
A. total revenues, after tax, minus cost of goods sold. B. total revenues minus the implicit and explicit costs of all inputs used. C. total revenues minus the opportunity cost of labor. D. total revenues minus total fixed costs.