Which of the following economic variables is affected when the government adopts countercyclical fiscal policy?
A) Government spending B) Bank reserves
C) Interest rates D) M2 measure of money supply
A
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The cost to a firm of producing one more unit of output
A) usually exceeds the firm's price. B) is significantly less than the firm's price for purely competitive firms operating in long-run equilibrium. C) usually equals the firm's price for monopolistically competitive firms. D) is the firm's marginal cost.
Since the 1960s, the percentage of U.S. output exported to foreigners
A) remained about the same. B) more than doubled. C) increased by more than ten times. D) declined by about half.
The combined Social Security tax rate was _____ up to incomes of _____
a. 15.3 percent; $87,000 b. 14.2 percent; $91,000 c. 11.7 percent; $83,500 d. 12.8 percent; $88,000
A good that people must actually consume before they can determine qualities is called
A) a credence good. B) a search good. C) an experience good. D) a persuasive good.