One great challenge to choosing programs to fund is:
A. knowing whether the program is truly the cause of any observed improvement.
B. raising the revenue to assess a program's viability.
C. poor record keeping.
D. All of these present large challenges.
A. knowing whether the program is truly the cause of any observed improvement.
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By refusing to be time inconsistent, a central bank is ________ its reputation and ________ "policy credibility."
A) harming, losing B) harming, gaining C) investing in, losing D) investing in, gaining
If your bank receives a demand deposit of $20,000 and the banking system makes the maximum possible loans, which is $60,000 . then the potential money multiplier must be
a. 2 b. 2.5 c. 3 d. 3.5 e. 4
Suppose a firm uses 200 units of capital and 1,000 workers to produce 10,000 units of output. When the firm employs 3,000 workers and uses 600 units of capital, output increases to 45,000 units. This firm exhibits:
A. increasing returns to scale. B. decreasing returns to scale. C. constant returns to scale. D. diminishing marginal returns.
Which of the following statements is false?
A. Critics feel that wage and price controls interfere with the price mechanism. B. Sweden has one of the world's most equal distributions of income, but also has a relatively low standard of living. C. In the former Soviet Union, most of the crops were produced on collective farms. D. The price system is based on supply and demand.