If the Friedman rule for long-term monetary policy were implemented, the result would be
A) inflation.
B) neither inflation nor deflation.
C) deflation.
D) hyperinflation.
C
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When Del Monte, an American company, purchases Mexican tomatoes, Del Monte pays for the tomatoes with
A) Mexican goods and services. B) euros. C) gold. D) Mexican pesos. E) Canadian dollars.
What does diminishing marginal product imply?
a. The marginal product of an extra worker is greater than the previous worker's marginal product. b. The marginal product of an extra worker is less than the previous worker's marginal product. c. The marginal cost of an extra worker is unchanged. d. The marginal cost of an extra worker is less than the previous worker's marginal cost.
If the marginal propensity to save in a closed economy is 0.25 and a lump-sum tax is imposed, the slope of the economy's aggregate expenditures schedule will be
A. .25. B. less than the slope before the tax. C. greater than the slope before the tax. D. .75.
Courts must approve ________, that is, formal agreements on remedies between all parties to an antitrust case.
A. consent decrees B. criminal actions C. private actions D. treble damages