(Consider This) Which of the following claims is not made by defenders of lotteries?
A. Lotteries are a relatively painless way to fund important government services.
B. Lotteries help reduce organized crime by providing an alternative to illegal gambling.
C. Lotteries are preferable to taxes because they are voluntary.
D. Lotteries are progressive in nature, with higher income families playing more frequently.
Answer: D
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If producers believe that the increase in their relative prices is small relative to the increase in the general price level, then the slope of the short-run aggregate supply curve will be
A) zero. B) small. C) large. D) negative.
Recessions occur at irregular intervals and are almost impossible to predict with much accuracy
a. True b. False Indicate whether the statement is true or false
A firm that exits its market has to pay
a. its variable costs but not its fixed costs. b. its fixed costs but not its variable costs. c. both its variable costs and its fixed costs. d. neither its variable costs nor its fixed costs.
In the model of aggregate demand and aggregate supply, the initial impact of an increase in consumer optimism is to
A. shift long-run aggregate supply to the left. B. shift aggregate demand to the right. C. shift short-run aggregate supply to the left. D. shift short-run aggregate supply to the right. E. shift aggregate demand to the left.