"Privatization of government owned industries is a more desirable way to operate an economy" is a ________ statement about ________ policy.
A. normative; monetary
B. positive; structural
C. normative; structural
D. positive; fiscal
Answer: C
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Refer to Figure 6-1. The demand curve on which elasticity changes at every point is given in
A) Panel A. B) Panel B. C) Panel C. D) none of the above graphs.
Refer to Figure 22-2. Based on the per-worker production function above, if the economy raises capital per hour worked from $35,000 to $40,000, by how much will real GDP per hour worked increase?
A) $150 B) $1,850 C) $2,000 D) $5,000
Which of the following statements is an example of the Fed's conditional commitment policy?
A) "In these circumstances, the Committee believes that policy accommodation can be maintained for a considerable period." B) "The Committee anticipates that weak economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time." C) "Policy accommodation can be removed at a pace that is likely to be measured." D) "The exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6-1/2 percent, and inflation between one and two years ahead is projected to be no more than a half percentage point above the Committee's 2 percent longer-run goal."
By selecting a bundle where MRS = MRT, the consumer is
A) achieving a corner solution. B) reaching the highest possible indifference curve she can afford. C) not behaving in an optimal way. D) All of the above.