One example of a microeconomic question is, "How will prices in the clothing industry change if the government bans imports from China?"
Answer the following statement true (T) or false (F)
True
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According to adaptive expectations theory, expansionary monetary and fiscal policies to reduce the unemployment rate are
A) useless in the short run
B) useless in the long run
C) ineffective on the price level
D) none of the above
If the marginal tax rate is equal to the average tax rate as taxable income increases, the tax structure is
A) proportional. B) unfair. C) progressive. D) regressive.
The rate of interest banks charge other banks for overnight loans of reserves is the
A) prime rate. B) discount rate. C) federal funds rate. D) real rate.
Bobby's neighbor is growing a tree that is blocking Bobby's ocean view. Bobby is considering taking his neighbor to court. To Bobby, the tree represents a(n)
a. unclear property right b. public good c. free-rider good d. positive externality e. negative externality