To complement actions by the Fed to reduce inflation, Congress and the President can cut spending and/or raise taxes
Indicate whether the statement is true or false
TRUE
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Which of the following is included in GDP?
a. life expectancy b. literacy c. health d. infant mortality
Suppose one county in Missouri decides it wants to reduce alcohol consumption, so the county passes a law that raises the price of a bottle of beer by $1 . As a result, people drive to other counties to drink alcohol, which results in an increase in drunk driving. This illustrates the principle that people respond to incentives
a. True b. False Indicate whether the statement is true or false
One way to cope with chronic excess demand is to
a. simply give the goods away for free b. force parity between the quantity demanded and the quantity supplied c. issue ration coupons for the quantity supplied d. lower the price ceiling e. impose crop limitations
Refer to the information provided in Figure 6.9 below to answer the question(s) that follow.
Figure 6.9Refer to Figure 6.9. The marginal utility of the fourth video game rental is
A. 0. B. 4. C. 8. D. 22.