Which of the following is an advantage of monetary policy?
A) It is faster to implement than fiscal policy.
B) It acts more directly upon aggregate demand than fiscal policy.
C) It is not subject to multiplier effects.
D) It is unlikely to create inflation.
A
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Which of the following statements about the price elasticity of demand along a downward-sloping linear demand curve is true?
A) It is elastic at high prices and inelastic at low prices. B) It is inelastic at high prices and elastic at low prices. C) It is perfectly elastic at very high prices and perfectly inelastic at very low prices. D) It is unit elastic throughout the demand curve.
The Pat Summerall School of Diction is employing teachers such that the marginal revenue product of teachers exceeds the wage rate. The school will
a. reduce its demand for teachers b. lay off teachers c. be losing money from those teachers employed d. hire more teachers e. increase the price of diction classes
Income supplements large enough to significantly increase the economic status of poor people will
a. encourage behavior that increases the risk of poverty. b. create high implicit marginal tax rates that reduce the incentive of transfer recipients to earn. c. provide low-income recipients with a strong incentive to work and increase their earnings so they will not be dependent on income transfers. d. do both a and b.
Which of the following is associated with shifting cultivation?
A. Transhumance B. Terracing C. Swidden D. Rainforest climates. E. Both C and D