Figure 4.3 illustrates the demand for tacos. If people expect the price of tacos to decrease in the near future, this would most likely bring about a movement from
A) point a to point b. B) point c to point a. C) D2 to D0. D) D0 to D1.
C
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In practice, one of the principal problems with aggregate demand management is that
A) changes in aggregate demand do not affect output. B) changes in aggregate demand cannot reduce unemployment. C) changes in aggregate demand are highly inflationary. D) stabilization policies could increase aggregate demand too much and at the wrong times.
Which of the following is NOT related to the slope of isoquants?
A) The fact that inputs have positive marginal product B) The fact that inputs have diminishing marginal product C) The fact that input prices are positive D) The fact that more of either input increases output E) The fact that there are diminishing returns to inputs
Changing reserve requirements is the most important method the Federal Reserve uses to change the supply of money
a. True b. False Indicate whether the statement is true or false
A legal system that provides secure private property rights and unbiased enforcement of contracts
a. is unnecessary for the smooth operation of markets. b. reduces the efficiency of markets. c. enhances the efficiency of markets. d. makes it easier for sellers to cheat or defraud consumers.