What are food stamps?
What will be an ideal response?
Food stamps are vouchers that have a face value greater than their cost that can be used to purchase food at grocery stores.
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Keynesians believe that the difference between using an increase in the money supply compared with an increase in government spending to increase aggregate demand in the event of a recession is that if government spending is increased, ________ will
be ________ than if the money supply is increased. A) real interest rate; higher B) real interest rate; lower C) the price level; lower D) the price level; higher
An increase in demand for French fries will cause equilibrium wage rates:
a. and quantities of potato workers hired to rise. b. and quantities of potato workers hired to fall. c. to rise and quantities of potato workers hired to fall. d. to fall and quantities of potato workers hired to rise. e. and quantities of potato workers hired to stay the same.
Price discrimination occurs when
a. firms maximize their profit by setting price equal to marginal cost. b. a seller charges different prices to different consumers for the same product or service. c. a seller charges the same price to consumers for a different product or service. d. a seller charges different prices to consumers, discriminating by race or gender of the consumer.
_________ arises when firms act together to reduce output and keep prices high.
A. An oligopoly B. Collusion C. A cartel D. A monopoly