"Increasing income tax rates will solve the Social Security time bomb issue" is an example of
A) business economic policy.
B) a positive economic statement.
C) marginal cost exceeding marginal benefit.
D) answering the "how" question.
E) globalization.
B
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The table above gives the demand for a monopolist's output. What is the marginal revenue when output is increased from 2 to 3 units?
A) $18 B) $4 C) $7 D) $6
Credibility is not important in ________
A) new Keynesian and traditional Keynesian theory B) real business cycle and traditional Keynesian theory C) real business cycle and new Keynesian theory D) traditional Keynesian, new Keynesian and real business cycle theory
Which union recently agreed to a 3-year wage freeze and the loss of 3,000 jobs in exchange for plant upgrades and limited imports?
A. The United Steel Workers B. The United Automobile and Aerospace Workers C. The International Association of Machinists and Aerospace Workers D. The International Brotherhood of Electrical Workers
Concern about an international crisis has caused consumers to save their money and postpone big purchases. What is the effect on aggregate demand and aggregate supply?
(A) Both aggregate demand and aggregate supply will decrease, leading to lower real GDP. (B) Aggregate demand will decrease, lowering both real GDP and the price level. (C) Aggregate supply will decrease, raising the price level and lowering real GDP. (D) No change on aggregate demand and aggregate supply.