If we observe a decrease in the price of a good and a decrease in the amount of the good bought and sold, this could be explained by
a. an increase in the supply of the good.
b. an increase in the demand for the good.
c. a decrease in the demand for the good.
d. a decrease in the supply of the good.
C
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Which of the following information about fiat money is false?
A) It must be issued by a sanctioned monetary authority. B) It serves as a medium of exchange. C) It has virtually no intrinsic value. D) All of the above statements about fiat money are true.
Which of the following is an explanation as to why fluctuations in real GDP have become less volatile in the United States since 1950?
A) The government has become less inclined to intervene to stabilize the economy. B) Unemployment insurance and other government transfer programs have become more prevalent. C) The government and the Federal Reserve have decreased regulation and scrutiny of the financial system. D) Goods manufacturing has become a larger fraction of GDP.
Use the above figure. The total cost faced by this monopolistically competitive firm is
A. $2,080. B. $1,900. C. $3,150. D. $1,600.
A political problem with discretionary fiscal policy is the
A. business cycle. B. split control of the legislative and judicial branches of government. C. Federal Reserve. D. political business cycle.