Monetary policy that is focused on stimulating the economy is known as __________ monetary policy.
a. tight
b. free
c. expansionary
d. contractionary
c. expansionary
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Figure 5-10
In the indifference curve pictured in Figure 5-10, which of the following is clearly true?
A. B is preferred to D. B. B is preferred to C. C. A is preferred to B. D. C is preferred to D.
A consequence of adverse selection is:
A. buyers and sellers may lose surplus they would have gained with more complete information. B. too many transactions occur of low value. C. sellers violate the law when giving false information to buyers.
In the 1960s and early 70s, economists believed that the Phillips curve indicated: a. a menu of macroeconomic choices available to policy makers
b. that higher levels of employment could be achieved with lower inflation. c. that higher inflation was the price for more unemployment. d. all of the above.
What is "competitive" about a monopolistically competitive market?
What will be an ideal response?