What is called for with heterodox stabilization policies?
What will be an ideal response?
Calls for government spending cuts, tax reform, control over money supply growth, and also wage and price freezes to fight inflation and to reduce inflationary expectations
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When a monopolist's marginal cost of production is zero:
a. the deadweight loss is reduced. b. production is lower than if marginal cost were positive. c. the price charged is higher than if marginal cost were positive. d. maximizing profit is same as maximizing revenue.
After 2012 when the U.S. economy recovered,
a. the budget deficits shrank, and the increases in the debt-to-GDP ratio became larger. b. the budget deficits grew, and the decreases in the debt-to-GDP ratio became larger. c. the budget deficit shrank, and the increases in the debt-to-GDP ratio became smaller. d. the budget deficits grew, and the decreases in the debt-to-GDP ratio became smaller.
The equation of exchange indicates that:
A. MV = PQ. B. other things equal, an increase in the demand for money will increase P and/or Q. C. the velocity and the supply of money vary directly with one another. D. MP = VQ.
The United States can gain from international trade if
A. it imports goods for which it is a high-opportunity cost producer and exports those for which it is a low-opportunity cost producer. B. the dollar appreciates in value. C. the dollar is overvalued in the currency market.