Monetary policy goals include
i. maximum employment.
ii. stable prices.
iii. moderate long-term interest rates.
A) i only B) ii only C) i and iii only D) i and ii only E) i, ii, and iii
E
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The income per worker of a country increases if ________
A) the number of children in the country aged below 15 increases B) the country's GDP increases, all other variables remaining constant C) the number of retired people in the country increases D) the country's GDP falls, all other variables remaining constant
Water has a ________ marginal utility and brings a ________ consumer surplus; diamonds have a ________ marginal utility and bring a ________ consumer surplus
A) small; small; large; large B) large; large; small; small C) small; large; large; small D) large; small; small; large
The difference between a perfectly competitive firm and a monopolistically competitive firm is that a monopolistically competitive firm faces a:
A. horizontal demand curve and price exceeds marginal cost in equilibrium. B. downward-sloping demand curve and price exceeds marginal cost in equilibrium. C. horizontal demand curve and price equals marginal cost in equilibrium. D. downward-sloping demand curve and price equals marginal cost in equilibrium.
The lack of progress in reducing the poverty rate since the early 1970s is most closely related with which of the following factors?
a. increasing income inequality b. a reduction in the poverty line c. rapid economic growth d. a reduction in international trade