In a mixed economy,
A. all economies choose an identical mix of private and public involvement in the economy.
B. the government is more important than the private sector in generating output.
C. there is some government influence over the workings of the free market.
D. All of the responses are correct.
Answer: C
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According to the new Keynesian economists, SAS adjusts slowly to a change in AD because of
A) high menu costs. B) staggered overlapping wage contracts. C) efficiency wages. D) All of the above combinations explain slow adjustments in SAS.
A nation's monetary base changes when:
a. Central banks swap currencies with each other. b. Funds cross our imaginary line. c. The central bank reduces the reserve requirement. d. All of the above. e. None of the above.
When looking back on past choices, some people feel they should have exercised more and eaten less. The fact that they could not make that choice at that point in time is an example of less than optimal choices resulting from the:
A. fact that the benefits and costs of choices are separated by time. B. complicated nature of the choice. C. market system within which we make choices. D. fact that we don't make food and exercise choices very frequently. D. market system within which we make choices.
Excise taxes are
A. really income taxes in disguise. B. profits taxes on major corporations. C. per-unit taxes on specific goods. D. percentage taxes on sales revenues.