Low inflation is also better than _________ , which occurs with severe recessions.
a. hyperinflation
b. hypoinflation
c. deflation
d. stagnation
c. deflation
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If you pay a constant percentage of your taxable income in taxes, the tax is
A) regressive. B) random. C) proportional. D) progressive.
If a commercial bank borrows from the Federal Reserve, the price it pays is
A) zero, there is no payment. B) the prime rate. C) the federal funds rate. D) the discount rate.
If the marginal revenue product of the last worker hired exceeds the marginal factor cost of the worker, the firm would be better served if it
A) hires additional workers. B) maintains its current level of workers already hired. C) lays off the last worker hired. D) None of the above is a good option for a profit-seeking firm.
Consider an economic model designed to analyze the purchasing decisions of households. An assumption that a household chooses between only two goods would be an example of a
a. simplifying assumption b. critical assumption c. macroeconomic assumption d. financial assumption e. positive assumption