The American Recovery and Reinvestment Act, signed by President Barack Obama in 2009, aimed at:
a. stimulating the aggregate demand in the economy
b. removing the supply bottlenecks in the economy.
c. closing an expansionary gap through a contractionary fiscal policy.
d. ensuring free trade flows across the world.
e. providing higher unemployment benefits to the residents of the economy.
a
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In long-run equilibrium, the monopolistically competitive firm:
a. will break even. b. will cease to advertise. c. will earn a positive economic profit. d. will face a perfectly elastic demand curve. e. will no longer need to engage in non-price competition.
Part of the reason why barely used cars sell for much less than new cars is that
A. buyers and sellers have symmetric information about cars and both have less information about used cars than about new cars. B. buyers and sellers have symmetric information about cars and both have more information about used cars than about new cars. C. buyers have more information about used cars than sellers do. D. sellers have more information about used cars than buyers do.
The budget line should swivel to the right if
A) The price of ice cream cones went up B) the price of ice cream cones went down C) the price of ice cream sandwiches went up D) the price of ice cream sandwiches went down
In the above table, the marginal propensity to consume (MPC) is
A. 0.8. B. 0.9. C. 0.85. D. 0.75.