The mistiming problem with discretionary fiscal policy results from
A. a delay in agreeing on a solution to a recession.
B. a delay in recognizing a recession.
C. a delay in getting a particular plan implemented with the money getting into peoples' hands.
D. all of the options are correct.
Answer: D
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If in Switzerland in January, 2009 the CPI was 187.4 and in January, 2010 it was 191.1, then the inflation rate in 2010 was
A) 1.9 percent. B) 3.7 percent. C) -1.9 percent. D) unknown without the base period index number. E) unknown without the real prices.
Since 1940, the level of tariffs in the United States has generally been:
A. Rising B. Higher than the period from 1820-1940 C. Lower than the period from 1900-1940 D. About the same as the period from 1900-1940
When demand is elastic,
A) changes in price and changes in total revenue move in the same direction. B) there is no relationship between changes in price and changes in total revenue. C) changes in price and changes in total revenue move in opposite directions. D) for any change in price, total revenue will not change.
When buying a car from a commission salesman you improve your bargaining position by
a. shopping when the new model year cars have just arrived b. shopping when the showroom is empty of customers c. shopping when the car lot has few cars left unsold d. shopping toward the beginning of the month