Monetarists and Keynesians
A. agree on the impact of fiscal policy on the economy.
B. agree on the usefulness of discretionary policy.
C. disagree on how the Fed changes money supply.
D. disagree on the speed at which wages change.
Answer: D
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How is the production of public goods funded?
Compared to the price under perfect competition, the monopolist charges which of the following?
a. The same price b. A lower price c. A lower or higher price d. A higher price
Number of workersUnits of output0012525539541255150
Refer to Table 5.2, which gives a firm's production function. Assume that all non-labor inputs are fixed. The marginal product is maximized when the firm hires:
A. 2 workers. B. 3 workers. C. 4 workers. D. 5 workers.
"The slope of the demand curve gives the elasticity of demand." Do you agree or disagree? Why?
What will be an ideal response?