Fiscal policy is determined by
a. the president and Congress and involves changing government spending and taxation.
b. the president and Congress and involves changing the money supply.
c. the Federal Reserve and involves changing government spending and taxation.
d. the Federal Reserve and involves changing the money supply.
a
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When a natural monopoly is regulated using a marginal cost pricing rule, what can you say about the firm's profit and the market's efficiency?
What will be an ideal response?
Residential investment did NOT decline in the recession which began in
A) 1973. B) 1981. C) 1990. D) 2001.
Max has allocated $100 toward meats for his barbecue. His budget line and indifference map are shown in the above figure. If Max's current MRS = -1, then Max
A) is at point e. B) is maximizing his utility. C) will be better off by purchasing more burgers. D) None of above.
In the 1970s, members of the Law and Economics program at the University of Chicago argued that
a. per se rules should be adopted by the Supreme Court and used to decide antitrust cases. b. large firms should always be broken up in order to encourage competition. c. large market shares may be due to efficient management or innovation. d. courts should "get out of the antitrust business".