Entry to a perfectly competitive market is the long-run process of reducing production in response to a sustained pattern of losses
a. True
b. False
Indicate whether the statement is true or false
False
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A contractionary monetary policy ________.
A. shifts the aggregate supply curve to the left B. is used when the inflation rate is high C. is designed to increase aggregate demand D. can reduce the length of a recession
Many economists believe that if fiscal policy turns contractionary to reduce the deficit,
a. monetary policy can turn expansionary to counteract the effects on aggregate demand. b. monetary policy must be contractionary to reinforce the good effects of contractionary fiscal policy. c. foreign investment in the United States must be encouraged. d. taxes on the earnings from stock market gains should be increased.
You hold currency from a foreign country. If that country has a higher rate of inflation than the United States, then over time the foreign currency will buy
a. more goods in that country and buy more dollars. b. more goods in that country but buy fewer dollars. c. fewer goods in that country but buy more dollars. d. fewer goods in that country and buy fewer dollars.
A form of economic organization that relies primarily on private ownership of productive assets, freedom of exchange, and market prices to allocate goods and resources is often called?
What will be an ideal response?