For which of the following policies is there a significant implementation lag?
a. fiscal policy and monetary policy
b. fiscal policy but not monetary policy
c. monetary policy but not fiscal policy
d. neither monetary policy nor fiscal policy
b
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The economy could produce at 8 units of outboard motors and 18 units of robots
A. immediately only under unusual circumstances such as war.
B. if there is economic growth over a period of years.
C. under no circumstances.
D. immediately only under unusual circumstances such as war AND if there is economic growth over a period of years.
Total variable costs: a. are costs associated with short-run fixed capital
b. are so named because they vary from firm to firm within an industry. c. increase as production increases. d. decrease as production increases.
Which one of the following is based on the idea that the marginal utility of income diminishes as income increases?
a. Progressive taxation b. Capital controls c. Minimum wages d. Price controls e. Employee compensation regulations
In an open economy with flexible exchange rates, monetary policy affects consumption and investment by changing the ________ and affects net exports by changing the ________.
A. real interest rate; exchange rate B. exchange rate; real interest rate C. growth of domestic real GDP; growth of foreign real GDP D. inflation rate; unemployment rate