What best describes US federal fiscal experience in the late 1920s and early 1930s?
a. Revenues collected increased rapidly through the period.
b. A balanced budget was maintained for most of the Depression.
c. Tax rates were consistently lowered to spur economic growth.
d. Expenditures grew by over 300% from 1927 to 1940.
d. Expenditures grew by over 300% from 1927 to 1940.
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A decrease in the price of gasoline shifts the demand for auto batteries to the
A. left, because gasoline and auto batteries are substitutes. B. left, because gasoline and auto batteries are normally used together. C. right, because gasoline and auto batteries are substitutes. D. right, because gasoline and auto batteries are normally used together.
What happens in a duopoly if both firms try to act as the Stackelberg leader?
What will be an ideal response?
There has been an increase in the demand for chicken. This change can be shown graphically as a:
A. shift in the demand curve to the right. B. shift in the demand curve to the left. C. movement along the demand curve to the right. D. movement along the demand curve to the left.
A moral hazard problem occurs before a loan is made, and the adverse selection problem occurs after a loan is made
Indicate whether the statement is true or false