Keynesian policy levers include:
A. Deregulation.
B. Fiscal policy.
C. Supply-side policy.
D. Laissez-faire policy.
B. Fiscal policy.
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The table contains data for a hypothetical single-product economy. Nominal GDP in year 3 is
A. $100. B. $225. C. $450. D. $150.
The single best indicator of the degree of economic inequality in a country is the
a. top/bottom ratio b. Gini coefficient c. poverty rate d. Kuznets curve e. bell curve
An equal increase in all bond interest rates
A) increases the return to all bond maturities by an equal amount. B) decreases the return to all bond maturities by an equal amount. C) has no effect on the returns to bonds. D) decreases long-term bond returns more than short-term bond returns.
A profit-maximizing, monopolistically competitive restaurant serves 60 burgers a day at a total cost of $180 and earns a total profit of $180. In the long run, everything else equal, the
A. restaurant will charge more than $6 per burger. B. restaurant’s average total cost will rise and its total revenue will fall. C. restaurant will sell more burgers at a lower average profit per burger. D. All of the responses are correct.