Refer to Figure 7.1. The benevolent social planner would want the outcome represented in the ________ box
A) upper left
B) upper right
C) lower left
D) either A or C
D
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When the Fed alters the types of assets it owns, it is engaging in
A) international balance management. B) forward guidance. C) quantitative easing. D) changing the discount rate.
The marginal propensity to save is:
a. the change in saving induced by a change in consumption. b. (change in S) / (change in Y). c. 1 ? MPC / MPC. d. (change in Y ? bY) / (change in Y). e. 1 ? MPC.
The demand curve facing a monopolist is
a. horizontal at the market price. b. identical to the market demand curve for the good. c. exactly twice as steep as the market demand curve for the good. d. vertical because there are no competitors.
Federal spending on elementary and secondary education rose from $39.7 billion to $40 billion in 2007. Inflation at the time was 2.5%. Explain what happened to real spending on education in 2007.
What will be an ideal response?