If a policymaker is convinced that time lags frequently negate the impact of short-run stabilization efforts, it is likely she would favor ________ policymaking.
A. aggressive
B. discretionary
C. active
D. nondiscretionary
Answer: D
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Which requirement for perfect competition rules out trade associations or other collusive arrangements in which firms work together to influence price?
A. Freedom of entry and exit B. Homogeneity of product C. Perfect information D. Numerous small firms and customers
An individual derives utility from consuming "all other goods," g, and clean air (measured by the reduction in particulate matter per m3), a, as measured by the utility function U(g,a) = g0.6a0.4. The price of consumer goods equals $20 and the price of clean air (abatement) equals $10. What is the slope of the Engel curve when income increases from $100 to $200?
A) The slope is 25. B) The slope is -25. C) The slope is zero. D) The slope is infinite.
When the price of a cup of coffee falls from $3.00 to $2.50, the quantity demanded increases from 1,000 per month to 1,150 per month. Using the midpoint method, the price elasticity of demand is
A) 0.77. B) 1.30. C) 0.07. D) 3.00. E) 2.50.
Compare the market supply curves in a perfectly competitive market and a monopoly market
What will be an ideal response?