The government's profit from issuing fiat money is known as
A) seigniorage.
B) menu costs.
C) commodity profit.
D) tax distortions.
A
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According to supply-siders
a. there exists a temporary tradeoff between higher inflation and higher output growth. b. there exists a permanent tradeoff between higher inflation and higher output growth. c. there exists no tradeoff between higher inflation and higher output growth. d. there exists a temporary tradeoff between higher inflation and higher output growth during periods of low inflation only.
A market is said to "clear" when
A) sellers give up selling their goods because they can't find any buyers. B) buyers and sellers are able to buy and sell as much as they want at the market price. C) the government decides to shut it down. D) sellers run out of goods to sell.
In a perfectly competitive resource market the labor supply curve facing the single firm is
A) vertical. B) horizontal. C) downward-sloping. D) upward-sloping.
Which of the following firms operates in a natural monopoly?
a. Telephone company. b. Electric company. c. Water company. d. All of these.