The important effects of ZIRP, QE, and Operation Twist include the following, except:
A. The federal government was able to fund huge budget deficits at lower than normal interest rates
B. The Fed became the federal government's primary lender, financing a huge portion of the budget deficit
C. Government spending in effect became largely funded by "newly printed" money
D. The Fed's monetary policy somewhat offset the effects of the federal government's fiscal policy
D. The Fed's monetary policy somewhat offset the effects of the federal government's fiscal policy
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Use the data in the above table and suppose that labor is the only variable factor of production. At what level of output does the marginal cost start to rise at Decent Donuts?
A) 0 dozen donuts B) 111 dozen donuts C) 128 dozen donuts D) There is not enough information given to determine when the marginal cost starts to increase.
A product is produced in a monopolistically competitive industry with scale economies. If this industry exists in two countries, and these two countries engage in trade with each other, then we would expect
A) each country will export different varieties of the product to the other. B) the country in which the price of the product is lower will export the product. C) the country with a relative abundance of the factor of production in which production of the product is intensive will export this product. D) neither country will export this product since there is no comparative advantage. E) the countries will trade only with other nations they are not in competition with.
A worker will become indifferent between spending the next hour on work or leisure if the benefit of another hour of work is:
A. greater than the opportunity cost. B. exactly equal to the opportunity cost. C. less than the opportunity cost. D. constant for each additional hour worked.
In ________ industries, a single firm has some control over the price of its output.
A. perfectly competitive B. all C. imperfectly competitive D. only government-regulated