The main policy tool for manipulating consumer spending is personal income tax, but this tool takes time to have an effect
a. True
b. False
Indicate whether the statement is true or false
True
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The marginal revenue product of labor declines as the number of workers increases because
A) firms hire the most efficient workers first and the least efficient workers last. B) firms must lower prices for the final product when they want to sell more units. C) of the law of diminishing marginal product. D) of diseconomies of scale.
References in the newspaper to the bond market are usually references to
a. the primary bond market b. the commodities market c. the secondary bond market d. the stock market e. the futures market
The central bank is said to monetize the deficit when it
A. prints Federal Reserve notes to satisfy the increased demand for money. B. sells government bonds from its own portfolio of government securities. C. requires member banks to buy the bonds to finance the deficit. D. purchases the bonds that the government issues.
Suppose two nations are seeking to expand their commercial relations. What options do they have in terms of addressing conflicts in standards? Describe each and what conditions might favor different approaches to setting standards
What will be an ideal response?