In Figure 13.1, "the zero lower bound" is displayed at ________
A) point 1
B) point 2
C)
D) the origin (intersection of the axes)
E) none of the above
B
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If an external cost exists, then who bears the external cost in an unregulated competitive market transaction?
A) nobody B) the federal government C) someone other than the producers D) the buyers of the product
Refer to the above figure. An excise tax of $0.50 was imposed on this good. From the figure we can see that the
A) producer will bear most of the tax. B) consumer will bear most of the tax. C) consumer and producer will share the tax. D) amount of the tax collected is less than $0.50.
During which Presidential administration did the United States both end its commitment to Bretton Woods and institute significant wage and price controls?
a. Dwight Eisenhower b. Richard Nixon c. Jimmy Carter d. William Clinton
The equation for aggregate expenditure is as follows:
a. C + I + G + (X - M) b. C + I + P + (X – M) c. I + G + (X – M) d. C + G + (X – M)