If the nominal deficit is $200 billion, the real deficit is $150 billion, and total debt is $2 trillion, then inflation is:
A. 5 percent.
B. 2.5 percent.
C. 1 percent.
D. 4 percent.
Answer: B
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Diffusion of responsibility exists when
A) the members of a group believe one thing but mistakenly assume that most of the other members believe something else. B) a group of bystanders all agree that something needs to be done but each feels less personal responsibility for taking action because each perceives that there are others who could take action. C) a majority of people in a group do not have the intellectual capacity of arriving at a viable solution to a public goods problem. D) the least-capable member of a group exerts his influence over the rest of the group when trying to arrive at a decision on how to internalize an externality.
If in the market for apples the supply has decreased, then
A) the supply curve for apples has shifted to the right. B) there has been a movement upwards along the supply curve for apples. C) there has been a movement downwards along the supply curve for apples. D) the supply curve for apples has shifted to the left.
In general, the number of firms is lesser in monopolistic competition compared to oligopoly
a. True b. False Indicate whether the statement is true or false
The primary method for controlling the money supply in the United States is to limit the:
A. Amount of currency that is printed.
B. Amount of money that is spent by changing income transfers.
C. Amount of money that is spent by changing tax policy.
D. Volume of loans the banking system can make.