A regulatory budget would
A. provide an accounting of government regulation.
B. be difficult to compute.
C. have to be attempted unofficially.
D. all of these answer options are correct.
D. all of these answer options are correct.
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
Refer to Figure 15-17. The faculty member who designed the course argues: "I think the course should be priced so that the maximum number of students enroll." Which price should this faculty member favor?
A) $0 B) $40 C) $88 D) $150
The law of demand says that the lower the price, the
a. greater is the quantity demanded b. greater is the demand for the good c. smaller is the demand for the good d. smaller is the quantity demanded e. larger is the supply of the good
Regarding demand elasticity, which of the following statements is correct?
a. If demand for seller's product is elastic, a price increase will decrease total revenue. b. If demand for seller's product is elastic, a price increase will increase total revenue. c. If demand is exactly unit-elastic, an increase in price will raise total revenue. d. If demand is exactly unit-elastic, an increase in price will raise total revenue.