The demand curve for AIDS drugs is likely to be
A. upward sloping.
B. vertical or close to vertical.
C. no different that the demand for aspirin.
D. horizontal or close to horizontal.
Answer: B
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In the money market, a condition of excess supply of money can be eliminated by a ________ in aggregate output or a ________ in the interest rate, everything else held constant
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
The conventional view among economists is that persistent budget deficits lead to a ________ capital stock and a ________ level of potential GDP in the long run
A) larger; higher B) larger; lower C) smaller; higher D) smaller; lower
A country's government would like to raise the price of one its most important agricultural crops, coffee beans. Which of the following government programs will result in higher prices for coffee beans?
A) An import quota on coffee beans B) An acreage limitation program which provides coffee bean farmers financial incentives to leave some of their acreage idle C) An import tariff on coffee beans D) all of the above
The long run is a planning period:
a. during which the firm can vary its plant size. b. less than six months. c. less than one year. d. less than five years.