Which of the following is likely to lead to a partial recovery after a recession?
A) A decrease in money supply B) A decrease in tax rates
C) A decrease in government spending D) An increase in the interest rate
B
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
A common misperception about consumer demand is that
A. demand depends on many other variables. B. price is a major determinant of quantity. C. it is a fixed amount. D. quantity cannot be determined in advance. E. All of these responses are correct.
When playing a game in which players are in direct competition with one another, it is best to ________ a mixed strategy because the strategy is ________
A) use; predictable B) use; unpredictable C) avoid; predictable D) avoid; unpredictable
An industry in which economies of scale allow one firm to supply the entire market at the lowest possible cost is called a
A) legal monopoly. B) natural monopoly. C) single-price monopoly. D) one-firm monopoly.