Analysis that aims at determining only the economic consequences of a particular policy is called ________ analysis.
A. positive
B. normative
C. monetary
D. fiscal
Answer: A
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Which of the following is a reason not to join a monetary union?
A) the loss of national identity B) the loss of seignorage C) a lack of fiscal integration D) All of these are reasons not to join.
Perfect (first degree) price discrimination:
a. is a common occurrence in situations with many buyers. b. occurs fairly often in situations with only a few buyers. c. is only observed in competitive markets. d. rarely occurs because firms do not have sufficient information to differentiate among specific buyers.
What does GDP measure to avoid double-counting?
a. final goods and services b. intermediate goods and services c. net exports d. all sales of goods and services
The use of pollution permits by the government to reduce pollution is:
A. theoretically interesting, but untried in the United States. B. common in several parts of the United States. C. common in the third world. D. workable in theory but unworkable in practice.