Activists hold that
A) activist monetary policy is flexible.
B) nonactivist monetary policy is inflexible.
C) the economy does not always return quickly enough to full-employment output.
D) a and b
E) all of the above
E
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Refer to the scenario above. If Joseph prefers more money to less, ________
A) he will not accept any offer made by Phillip B) he will always accept any offer made to him C) Phillip will offer the lowest possible amount to Joseph D) he will accept the offer only if Phillip pays him an equal share of the money
The price of milk rises, so the supply of ice cream decreases. there is, as a result a 5 percent increase in the price of ice cream and a 3 percent decrease in the quantity of ice cream sold
The revenue received by ice cream suppliers will ________ because the demand for ice cream is ________. A) decrease; price inelastic B) increase; price inelastic C) increase; price elastic D) decrease; price elastic
The net loss to society from a tax on a product can be measured as: a. the loss in consumer surplus
b. the loss in producer surplus. c. the loss in both consumer and producer surplus. d. the difference between the loss in consumer and producer surplus and the gain in tax revenue.
The WTO explicitly stated that in making its sea turtle decision, it was NOT saying that sovereign nations could not adopt effective measures to protect endangered species. Clearly, it said, sovereign nations can and should develop effective measures, including trade measures, to protect endangered species
Indicate whether the statement is true or false