The activists' paradise requires
A) that government expenditures follow a fairly steady growth path.
B) the ability to forecast perfectly future changes in demand and effects of changes in policy.
C) policy to have powerful direct effects but no side-effects.
D) B and C are both correct.
D
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On May 12, 2011, the U.S. dollar was worth 0.70 euros. How many dollars did it take to buy 1 euro?
A. 0.70 B. 1.43 C. 1.70 D. 2.70
If the inflation rate in an economy is 5 percent and the income earned by workers increases by 5 percent, then _____
a. nominal income declines and real income increases b. both nominal income and real income increase by 5 percent c. nominal income increases and real income declines d. both nominal income and real income decrease by 5 percent e. nominal income increases by 5 percent and real income is unchanged
The marginal revenue curve of a single price monopolist
A. lies below the demand curve. B. is a horizontal line. C. lies above the demand curve. D. lies along the demand curve.
Which of the following results from having scarce economic resources?
a. The production of unlimited goods and services b. The production of limited goods and services c. Deflation d. Poverty and unequal distribution of wealth