If the Fed wishes to slow economic activity, it might actively pursue:
A. contractionary fiscal policy.
B. expansionary monetary policy.
C. expansionary fiscal policy.
D. contractionary monetary policy.
Answer: D
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Mrs. Lovejoy decides to invest in companies which she believes can produce their goods at the lowest possible cost. Mrs. Lovejoy is investing in companies that are
A) always going to be profitable. B) productively efficient. C) both productively and allocatively efficient. D) allocatively efficient.
One way to characterize technological change is "creative destruction," which basically means that today's innovation will productively destroy yesterday's capital investment
This destruction creates new job opportunities, boosts production and offers a greater variety or more goods and services than in the past. Indicate whether the statement is true or false
The need to issue paper money increased with the frequent use of checks
Indicate whether the statement is true or false
The slope of the total product curve always equals
A) the ratio of the marginal product and the average product. B) the change in input divided by the change in output. C) the average product of the input. D) the marginal product of the input.