The effect time lag is the time period that elapses
A) between when an economic problem manifests itself and it is officially acknowledged.
B) between the recognition of an economic problem and implementing policies to solve it.
C) between implementing policies to solve an economic problem and when the results of that policy can be measured.
D) between the beginning of the budgetary process and the final budget resolution.
C
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The Coase Theorem is the proposition that if the number of involved parties is low, if property rights ________ and transactions costs are ________, then private transactions are efficient
A) are nonexistent; low B) exist; high C) are nonexistent; high D) exist; low
How many dollars would it cost to buy an Edinburgh Woolen Mill sweater costing 50 British pounds if the exchange rate is 1.25 dollars per one British pound?
A) 50 dollars B) 60 dollars C) 70 dollars D) 62.5 dollars E) 40 British pounds
When costs that vary with the level of output are divided by the output, you have calculated:
a. total changing cost. b. total fixed cost. c. average fixed cost. d. average variable cost.
An increase in the excess reserves banks want to hold, together with people taking currency out of their demand deposit accounts, would: a. increase the money supply
b. decrease the money supply. c. leave the money supply unchanged. d. have an indeterminate effect on the money supply.