Congress and the president carry out fiscal policy through changes in
A) taxes and the interest rate. B) interest rates and the money supply.
C) government purchases and the money supply. D) government purchases and taxes.
D
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Consumption is a function of _____.
Fill in the blank(s) with the appropriate word(s).
If a profit-maximizing firm in a perfectly competitive market is currently producing the output where (price - average variable cost) = average fixed cost, the firm is:
A. making a positive economic profit. B. making a zero economic profit. C. suffering an economic loss. D. None of these
Cross-subsidization occurs when
A. The government subsidizes production of a product. B. Profitable firms in an industry are forced to share their profits with the unprofitable firms. C. Firms are required to subsidize government research and development that may benefit their industry. D. Profits on one product are used to subsidize low prices on another product.
In 2013, the highest incidence of poverty was for
A. children under 18. B. women living in households with no husband present. C. Hispanic families. D. individuals over 65.