Which one of the following is an area of agreement among modern macroeconomists with regard to the use of fiscal policy?
What will be an ideal response?
It is difficult to time changes in discretionary fiscal policy in a manner that will promote stability.
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The above figure definitely shows
A) a long-run equilibrium for a monopolistically competitive firm. B) an industry with few firms. C) a long-run equilibrium for a perfectly competitive firm. D) a long-run equilibrium for a perfectly competitive market. E) a short-run equilibrium for a monopoly.
The overall performance of the economic system as a whole is the focus of
a. international finance b. labor economics c. microeconomics d. macroeconomics e. public economics
The U.S. economy rarely grows
a. True b. False Indicate whether the statement is true or false
When there is a surplus of a product in a market the:
A. price will rise. B. price must be above the equilibrium price. C. producers will expand output and sales will rise. D. price must be below the equilibrium price.