_________ tend to be more intervention minded and hence more favorable disposed toward activist stabilization policies.
A. Liberals
B. Conservatives
C. Politicians
D. None of the above is correct.
Answer: A
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Refer to Scenario 6.1. The Nash equilibrium occurs where
A) both Tasha and Gloria work extremely hard. B) both Tasha and Gloria work somewhat hard. C) Both A and B represent Nash equilibria. D) There is not a Nash equilibrium in this scenario.
At times risk averse people are willing to _____ to avoid risk.
Fill in the blank(s) with the appropriate word(s).
Keynesian analysis stresses that a tax cut that increases the government's budget deficit or reduces its budget surplus:
A. is appropriate during a period of inflation. B. will increase the money supply. C. will stimulate aggregate supply and, thereby, promote employment. D. will stimulate aggregate demand and, thereby, promote employment.
A purely competitive firm does not try to sell more of its product by lowering its price below the market price because:
A. Its competitors would not permit it B. It can sell all it wants to at the market price C. This would be considered unethical price chiseling D. Its demand curve is inelastic, so total revenue will decline