Monetary policy includes all of the following, except
A. changes in government spending on goods and services.
B. changes in reserve requirements.
C. changes in the discount rate.
D. buying and selling government securities on the open market.
A. changes in government spending on goods and services.
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Pat Robertson, a TV evangelist and former Republican Party candidate for president, once said that “debt is an affront to God,” so good Christians should not spend beyond their incomes. Indeed, Robertson wants Christians to save more. If more Americans, Christians as well as others, took his message seriously, how would we represent the result using a Keynesian macroeconomic model?
A. A downward movement along the consumption function B. An upward movement along the consumption function C. A downward shift of the consumption function D. An upward shift of the consumption function
A monopolistically competitive firm will increase its production if
a. marginal revenue is greater than average total cost. b. price is greater than average total cost. c. price is greater than marginal cost. d. marginal revenue is greater than marginal cost.
A country is said to enjoy a comparative advantage over another country in the production of a product if it uses fewer resources to produce that product than the other country does.
Answer the following statement true (T) or false (F)
YearAntonio's Hourly wageConsumer Price Index2006$8.40201.62010$9.05218.1 Refer to Table 8.2. From 2006 to 2010, Antonio received a total of $0.65 in pay raises, and the CPI also increased as shown in the table. What was Antonio's real wage in 2006, if 2006 is used as the base year?
A. $9.05 B. $9.09 C. $8.40 D. $8.37