One of the main functions of a country's monetary policy is to
A. monitor government spending.
B. supervise the banking system.
C. issue new currency.
D. regulate the economy.
D. regulate the economy.
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The flatter is the LM curve
A) the more effective is fiscal policy. B) the less effective is fiscal policy. C) the less is the interest sensitivity of saving. D) the less is the interest sensitivity of the money supply.
The marginal product of labor is the
a. value marginal product of labor multiplied by the price of the good produced. b. total output of labor divided by the quantity of labor used. c. additional output resulting from employing one additional unit of labor. d. same as the marginal revenue product of labor in price-taker markets.
Which of the following is not correct?
a. Toys for Tots, a program that collects new toys to distribute to poor children at Christmas, is an example of an in-kind transfer. b. Supporters advocate the use of in-kind transfers because they restrict the ability of recipients to purchase alcohol and drugs. c. Critics argue that in-kind transfers are inefficient and disrespectful. d. For a program to qualify as an in-kind transfer, it must have government approval.
In the short run, the marginal cost of the first unit of output is $20, the average variable cost of producing three units of output is $16, and the marginal cost of producing the second unit of output is $16. What is the marginal cost of producing the third unit of output?
A. $12 B. $16 C. $20 D. $48