According to monetarists, which of the following would be most important for the control of inflation?
a. a steady increase in federal expenditures
b. the imposition of price controls
c. keeping the growth rate of the money supply low and steady
d. a steady increase in the size of the budget deficit
C
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If McDonald's, Wendy's, and Burger King agree with each other not to sell hamburgers for less than $3.95 apiece, all three could be found guilty of
A) an interlocking directorship under the Clayton Act. B) price fixing under the Sherman Act. C) a deceptive business practice under the Clayton Act. D) None of the above answers is correct.
One way to eliminate the Tragedy of the Commons is to
a. increase law enforcement in public areas. b. limit access to the commons. c. increase access to the commons. d. decrease taxes.
At very low levels of disposable income
A. saving is negative. B. saving is very high. C. consumption is negative. D. consumption is a very small part of income.
Which of the following would cause an increase in the supply of peanut butter?
A) a decrease in the price of grape jelly (assuming that peanut butter and grape jelly are complements) B) an increase in the price of peanut butter C) an increase the price of a product that producers sell instead of peanut butter D) an increase in the number of firms that produce peanut butter