Refer to the diagram. Discretionary fiscal policy designed to slow the economy is illustrated by:
A. the shift of curve T 1 to T 2 .
B. the shift of curve T 2 to T 1 .
C. a movement from a to c along curve T 2 .
D. a movement from d to b along curve T 1 .
B. the shift of curve T 2 to T 1 .
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The full-employment rate of output can
A) be surpassed in the long run only if input prices are flexible. B) not be surpassed in either the short run or the long run. C) be surpassed only when firms are not yet producing at full capacity. D) be surpassed only in the short run.
Opportunity cost is the difference between the benefits and the costs of a choice
a. True b. False
Which type of public policy toward monopolies is much more common in Europe than in the United States?
a. antitrust laws b. regulation c. public ownership d. "do nothing"
The table below shows the weekly demand for hamburgers in a market where there are just three buyers.PriceQuantity Demanded by Buyer 1Quantity Demanded by Buyer 2Quantity Demanded by Buyer 3$6746597841510123211516Refer to the table. At a price of $6, the weekly quantity of hamburgers demanded in the market is
A. 23. B. 17. C. 11. D. 10.