Which of the following is used to explain why a consumer's willingness to buy a cell phone increases as the number of other people who own and use cell phones increases?
A) network externalities B) diminishing marginal utility
C) market failure D) the income effect of a price change
A
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The relationship between the quantity of money balances demanded and the interest rate is
A) contractionary monetary policy. B) determined by open market operations. C) negative. D) the reserve requirements.
Fill in the blank: National income accountants define a(n) ________ good as something purchased with the goal of reselling it or further processing or remanufacturing it into another sellable good
A) scarce B) intermediate C) final D) finished E) completed
Exemptions are more desirable than deductions for a person in the 36% tax bracket.
A. True B. False C. Uncertain
If the federal government is seeking to reduce large budget deficits, the flexibility of fiscal policy is
a. limited when trying to combat inflation. b. increased when trying to combat unemployment. c. limited when trying to combat unemployment. d. unaffected whether trying to combat inflation or unemployment.