Which of the following is the best example of a nonrenewable resource?
a. Forests. b. Oil.
c. Clean air. d. Fish in the ocean.
b
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An increase in the quantity demanded is shown as
A) a movement along the demand curve. B) a movement toward the demand curve. C) a rightward shift of the demand curve. D) a leftward shift of the demand curve. E) both a movement along the demand curve and a shift of the demand curve.
If the government wanted to reduce interest rates without changing output, it should
a. increase consumption and reduce the money supply. b. increase the money supply and raise government spending. c. increase the money supply and raise taxes. d. both b and c.
The supply curve for a monopolist, in the short run, is defined in the same way as that for a competitive firm: it is the portion of the marginal cost curve above average variable cost
a. True b. False Indicate whether the statement is true or false
Over the years most monetary policy experts would agree with each of the following statements, except:
A. the reserve requirement is not useful as an operational instrument. B. central bank lending is necessary to ensure financial stability. C. transparency in policy making hinders accountability. D. short-term interest rates are the best tool to use to stabilize short-term fluctuations in prices and output.