When media commentators refer to "tax and spend" policy, they are referring to
A. fiscal policy.
B. automatic stabilizers.
C. monetary policy.
D. command and control policy.
Answer: A
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Assume the table shown is for a hat factory, and shows the total production of hats given various numbers of employees. What is the marginal product of the ninth worker?
A. 10
B. 5
C. 15
D. 290
The time required _____ is not a time lag associated with using discretionary policy to correct an economic problem
a. to recognize the problem b. to decide how to handle the problem c. to set a policy change in action d. for a policy to affect economic variables e. to observe public reaction after a policy announcement is made
Production possibilities frontiers are typically concave (bowed out) from the origin because
a. of the law of supply b. there is usually a one-for-one trade-off in resources used in production c. economies of scale enable firms to reduce the average costs of production as output rises d. the opportunity cost of a good rises as the quantity of the good produced increases e. resources are often left idle in the firm
I frequently buy something which then has a rebate offer attached. I must fill in all the information requested, send off the form and then wait 8 weeks for the rebate. This practice is referred to as
A. a profit maximizing markup. B. network economics. C. exclusive contracting. D. the hurdle model of price discrimination.