Indifference curves do not cross because if you prefer steak over salmon and salmon over chicken then you also prefer
A. chicken over steak.
B. steak over chicken.
C. steak over salmon.
D. chicken over salmon.
Answer: B
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During an inflationary period caused by excessive aggregate expenditure, which type of government budget would most effectively combat inflation?
a. a deficit budget b. a balanced budget c. a surplus budget d. a full-employment budget
Would a union of all the restaurant workers in your area be more or less successful at winning wage increases without suffering employment losses than a union of all the pizzeria workers in your area? Explain
The advantage of a system of fixed exchange rates over one where exchange rates are flexible is that
a. the government gains more control over the economy. b. floating exchange rates impose risks on importers and exporters from unpredictable exchange rates. c. exchange controls become unnecessary. d. fiscal and monetary policy can focus more on domestic conditions.
Changes in GDP in the medium run are determined primarily by
A) demand factors. B) supply factors. C) monetary policy. D) all of the above