Fiscal policy can be offset by the actions of each of the following EXCEPT:
A. businesses.
B. consumers.
C. Congress.
D. The Federal Reserve.
Answer: C. Congress.
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The addition to total revenue resulting from one more unit of output is called marginal revenue
a. True b. False Indicate whether the statement is true or false
In the modern Keynesian model, over much of its range the short-run aggregate supply (SRAS) curve is
A. downward sloping. B. vertical. C. upward sloping. D. horizontal.
If planned investment exceeds actual investment
A. there will be a decline in inventories. B. there will be an accumulation of inventories. C. there will be no change in inventories. D. none of the above.
The international organization that serves as a forum for trade discussions and the development of trade rules is called
A) the WTO. B) the World Bank. C) the IMF. D) Bretton Woods. E) the United Nations.