In the early stages of macroeconomic model building, the money supply is regarded as a policy ________ that is under ________ control by the Federal Reserve
A) goal, perfect
B) goal, imperfect
C) instrument, perfect
D) instrument, imperfect
C
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The market supply curve is also the
A) marginal social cost curve. B) marginal value curve. C) marginal social benefit curve. D) maximum-supply-price curve.
The percentage change in the quantity supplied of a good or service when its price changes by one percent is:
A. price elasticity of supply. B. price elasticity of demand. C. cross-price elasticity. D. income elasticity of supply.
If income is distributed equally in a society, the poorest fifth of the population receives
a. 5 percent of the total income. b. one-fifth as much as the richest fifth of the population. c. 20 percent of society's total income. d. 50 percent of society's total income.
International crowding out is the tendency of expansionary fiscal policy to appreciate the country's currency and worsen the current account.
Answer the following statement true (T) or false (F)