To encourage invention and innovation, the government provides
A) patents.
B) public franchises.
C) government licenses.
D) natural monopolies.
E) easily obtained ownership barriers to entry.
A
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If Congress passes legislation reducing Federal Reserve independence, financial market participants are likely to assume that
A) the money supply will decline. B) inflation will increase. C) recession will quickly follow. D) the federal deficit will rise.
The equation of exchange states that: a. government spending = taxes plus the federal budget deficit
b. the reciprocal of the reserve requirement = the deposit expansion multiplier. c. the money supply times the velocity of money = the price level times the quantity of goods and services produced. d. the price level times the velocity of money = the money supply times the quantity of goods and services produced.
When workers are paid a wage that is less than their contribution to a monopsonist's revenues
A. they seek part time employment. B. they file a grievance with their union representative. C. this is sometimes referred to monopsonistic exploitation. D. this is sometimes referred to as an incentive.
How do taxes and needs-tested spending programs work as automatic fiscal policy to dampen the business cycle?
What will be an ideal response?