Over the past 25 years, child mortality has ________ and literacy has ________ in developed countries.
A. fallen; fallen
B. risen; risen
C. fallen; risen
D. risen; fallen
Answer: C
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Money targeting works when the demand for money curve is ________ and predictable. Technological change in the banking system has led to ________ and ________ shifts in the demand for money curve
A) stable; large; predictable B) unstable; large; unpredictable C) stable; small; unpredictable D) stable; small; predictable E) stable; large; unpredictable
Liquidity provision and asset purchase may not be enough to stimulate the economy unless the these policy actions are able to
A) lower the real interest rate for investments. B) lower the short-term real interest rate. C) raise the policy rate above zero. D) lower the policy rate.
Which of the following statements is false?
A. An income tax taxes savings twice only if consumption is the measure used to gauge a person's ability to pay. B. Proponents of income as a tax base argue that you should not be taxed on what you draw out of the common pot, but rather on the basis of your ability to draw from the pot. C. At this time, there is not clear consensus on what the best tax base is. D. The double taxation of saving tends to increase the saving rate because people have to save more to keep the after-tax yield constant.
How does the long-run equilibrium of a monopolistically competitive industry differ from that of a perfectly competitive industry?
A) A firm in monopolistic competition will charge a price higher than the average cost of production but a firm in perfect competition charges a price equal to the average cost of production. B) A firm in monopolistic competition will earn economic profits but a firm in perfect competition earns zero profit. C) A firm in monopolistic competition produces an allocatively efficient output level while a firm in perfect competition produces a productively efficient output level. D) A firm in monopolistic competition does not take full advantage of its economies of scale but a firm in perfect competition produces at the lowest average cost possible.