The monetarists believe
A. balancing the budget is the most important role of the government.
B. if the money supply were increased people would spend this money on assets of one kind or another.
C. expansionary monetary policy will permanently reduce the unemployment rate.
D. the money supply must remain constant from year to year.
B. if the money supply were increased people would spend this money on assets of one kind or another.
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As extraction of a nonrenewable resource increases, the supply curve shifts up because:
a. more substitutes become available. b. competition among the existing suppliers intensifies. c. the marginal cost of extracting any given amount increases. d. the resource finds alternative usage. e. the resource becomes less productive.
Which of the following is not a criticism sometimes leveled at monopolies? a. A monopoly promotes inefficiency
b. A monopoly creates a welfare loss. c. A monopoly retards innovation. d. A monopoly leads to improved economies of scale in production.
The export supply curve is the portion of the domestic supply curve below the no-trade equilibrium price
a. True b. False Indicate whether the statement is true or false
The U.S. income tax is a:
A. proportional tax. B. progressive tax. C. singular tax. D. regressive tax.