Government polices aimed at changing the underlying structure or institutions of the nation's economy are called:
A. fiscal policy.
B. structural policy.
C. trade policy.
D. monetary policy.
Answer: B
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
Economists call a severe prolonged economic recession a:
a. slump. b. depression. c. stagnation. d. stagflation. e. trend.
A fishing boat owner brings 50,000 fish to market and the market price is $4 per fish. Her average variable cost of 50,000 fish is $1 and the fixed cost of the boat is $100,000 . what is her profit per fish?
a. $1 b. $500 c. $5,000 d. $25,000 e. $500,000
The crude quantity theory of money assumes that
A. V and Q remain constant. B. V and Q vary. C. V is constant and Q varies. D. Q is constant and V varies.