The hyperinflation in Zimbabwe ended in April 2009 when the central bank purchased government bonds in open-market operations
a. True
b. False
Indicate whether the statement is true or false
False
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A friend of yours receives a government voucher for an apartment in a public housing project. This apartment represents
A) a government-sponsored good. B) the free-rider problem. C) a public good. D) the drop-in-the-bucket problem.
Which of the following would cause price to increase?
a. an increase in supply b. a decrease in demand c. a surplus of the good d. a shortage of the good
Which of the following is not an argument in favor of protecting domestic industries from foreign competition?
A. National security B. Making domestic firms more efficient C. Protection against subsidized foreign producers D. Reducing structural unemployment
In the short run, specific taxes on a firm result in:
a. price increases which may not persist in the long run. b. an increase in consumer surplus because the tax permits spending in additional government services. c. shortages of the good being taxed. d. an increase in producer surplus because of the rise in price.