A basic contention of supply-side economists is that regulatory costs are now too ________ and cause AS to shift to the ________.
A. high; right
B. low; right
C. high; left
D. low; left
Answer: C
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If the value of a government-taxation multiplier is 1.8, which of the following is likely to be true if all other variables remain unchanged?
A) A $1.80 increase in taxation increases gross domestic product by $1.80. B) A $1 reduction in taxation increases gross domestic product by $1.80. C) A $1 increase in taxation increases gross domestic product by $1.80. D) A $1.80 reduction in taxation increases gross domestic product by $1.80.
If bond prices rise in the secondary market,
a. the interest rate rises in the secondary market b. the interest rate rises in the primary market c. this has no impact on the primary market d. they fall in the primary market e. they also rise in the primary market
Kourtney invested $100 in a project that has a 20% chance of being worth $200 and a 75% chance of being worth $80. One can conclude that Michelle is
A) not risk averse. B) risk neutral. C) risk loving. D) extremely poor.
In the long run, there is
A) a tradeoff between unemployment and inflation. B) a tradeoff between unemployment and natural unemployment. C) a tradeoff between unemployment and real GDP. D) no tradeoff between unemployment and inflation. E) no tradeoff between fiscal policy and monetary policy.