Which of the following policies is most likely to encourage innovation, higher quality goods, and lower prices? I. Encouraging public-private partnerships II. Passing government regulations to reduce business failures and protect consumers III. Reducing barriers that limit entry of firms into new and existing markets
a. II and III
b. III only
c. I only
d. I and II
b. III only
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In an economy, there is $200 million in currency held outside banks, $100 million in traveler's checks, $250 million in currency held inside the banks, $300 million in checking deposits, and $600 million in savings deposits
The value of M1 is ________. A) $750 million B) $1,200 million C) $1,150 million D) $600 million
If the marginal propensity to consume (MPC) is 0.75, the value of the spending multiplier is:
a. 0. b. 1. c. 4. d. 5.
The purchasing power of one dollar is equal to _____
a. real GDP divided by nominal GDP b. nominal GDP divided by real GDP c. 1 minus the average price level d. the reciprocal of the average price level e. the implicit GDP deflator divided by the CPI
Based on the graph showing marginal cost pricing versus average cost pricing, the compromise created by average cost pricing is located at point ______.
a. A
b. B
c. C
d. D