In a market economy, the government's ability to coerce is beneficial in the following cases, except in:
A. Correcting for positive externalities
B. Correcting for negative externalities
C. Producing public goods
D. Fixing resource prices
D. Fixing resource prices
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It is ________ difficult to effectively time fiscal policy than monetary policy because ________
A) more; fiscal policy can be quickly decided and changed B) more; fiscal policy takes longer to implement C) less; monetary policy takes longer to implement D) less; monetary policy takes longer to decide and change
Marginal revenue product is defined as the amount that an additional unit of the variable input adds to ____
a. marginal revenue b. total output c. total revenue d. marginal product e. none of the above
Which of the following examples shows equilibrium price in practice?
a. Nostalgia Gifts, Inc sells 60 percent of their snow globes for $10 each and then sell the rest for $5 each. b. Nostalgia Gifts, Inc sells all their snow globes for $10 each, but consumers demand more. c. Nostalgia Gifts, Inc sells 80 percent of their snow globes for $10 each without consumers demanding more. d. Nostalgia Gifts, Inc sells all their snow globes for $10 each without consumers demanding more.
The slope of the consumption function is
A) less than the slope of the 45-degree line but not equal to zero B) greater than the slope of 45-degree line C) equal to the slope of the 45-degree line