The use of spending and taxes by the government to influence aggregate demand is known as
A. monetary policy.
B. governmental policy.
C. administrative policy.
D. fiscal policy.
E. federal policy.
Answer: D
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Scott used $4,000,000 from his savings account that paid an annual interest of 5% to purchase a hardware store. After one year, Scott sold the business for $4,100,000 . His economic profits is:
a. $300,000 b. $100,000 c. -$100,000 d. -$200,000
The CEO of British Petroleum decided that the company needed to add a goal to its worldwide operations. That goal was
A) to be a good corporate citizen. B) to focus on drilling and not exploration. C) to focus on exploration and not drilling. D) to enter the Chinese market.
Asymmetric information exists when
A) both parties to an exchange have all relevant facts about that exchange. B) a good that is either nonrivalrous or nonexcludable is being sold on a market. C) the two parties to an exchange differ in what they know about the good being exchanged. D) neither party to an exchange is knowledgeable about the quality of the good being exchanged.
The marginal propensity to consume is equal to:
a) Total spending / total consumption b) Total consumption / total income c) Change in consumption / change in income d) Change in consumption / change in savings