In an ideal competitive market,
A. excludable goods are minimized.
B. there are no depleteable goods.
C. external benefits are maximized.
D. social surplus is maximized.
Answer: D
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Inside lags are
A) longer for fiscal policy than for monetary policy. B) the same for fiscal policy and monetary policy. C) more variable for monetary policy than for fiscal policy. D) longer for monetary policy than for fiscal policy.
In the circular flow model, which of the following is an injection?
a. investment spending b. government taxes c. total exports d. imports
Which of the following is not a basic monetary policy tool used by the Fed?
A. The discount rate. B. The reserve requirement. C. Taxes. D. Open-market operations.
Suppose a jar of DeLux popcorn that is ultimately sold to a customer at Friendly Groceries is produced by the following production process: Name of CompanyRevenuesCost of Purchased InputsCitrus Growers Inc.$0.750Florida Jam Company$2.00$0.75The Corner Store$2.50$2.00If the corn was grown and the jar of popcorn produced in the year 2017, but the jar was sold at Friendly Groceries in the year 2018, what is the contribution of these transactions to GDP in the year 2018?
A. $1.50 B. $0.00 C. $0.50 D. $4.00