A government spending and taxation policy to achieve macroeconomic goals is known as:
A. countercyclical policy.
B. fiscal policy.
C. monetary policy.
D. a balanced budget.
Answer: B
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A government-imposed price floor has what effect on efficiency?
A. Consumer surplus increases. B. There is little dead weight loss. C. Consumer and producer surplus increases. D. Producer surplus increases.
Refer to Figure 10.9. Other things equal, a positive demand shock is best represented as a change in equilibrium from
A) point A to point B. B) point A to point D. C) point C to point B. D) point C to point D.
If the marginal utility of Jordyn's 100th dollar of income is 40 utils and the marginal utility of Joshua's 10th dollar is 135 utils, we know
a. money means more to Jordyn than to Joshua b. money means more to Joshua than to Jordyn c. Jordyn has more income than Joshua d. Joshua has more income than Jordyn e. nothing, since we can't make interpersonal utility comparisons
Which of the following is a form of monitory policy?
A. Increasing the Money Supply faster than usual during recession. B. Cutting taxes during a recession C. Increase government's spending during recession D. All E. None