Increases in ________ typically lead to decreases in consumption
A) the interest rate
B) disposable income
C) autonomous consumption
D) all of the above
E) none of the above
A
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Of the following, the best example of firm that might operate in a contestable market is a
A) cable TV company. B) wheat farmer. C) ship owner operating on a major waterway. D) private college operating in a state with many public colleges.
When it comes to choosing an policy instrument, both the ________ rate and ________ aggregates are measured accurately and are available daily with almost no delay
A) three-month T-bill; monetary B) three-month T-bill; reserve C) federal funds; monetary D) federal funds; reserve
A market failure occurs when
A) price equals marginal cost. B) there is a non-optimal allocation that leads to an inefficient market. C) deadweight loss is maximized. D) a firm shuts down.
Which of the following is an implicit cost of going to college?
a. Tuition. b. Books. c. Lost income. d. Future income. e. Room and board.