During the Great Depression fiscal and monetary policy was characterized by
a. an increase in tax rates and a contraction in the money supply.
b. a decrease in tax rates and a contraction in the money supply.
c. a decrease in tax rates and an expansion in the money supply.
d. an increase in tax rates and an expansion in the money supply.
A
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The ceteris paribus assumption is a behavioral assumption.
a. True b. False
A monopolistically competitive market has characteristics that are similar to
a. a monopoly only. b. a competitive firm only. c. both a monopoly and a competitive firm. d. neither a monopoly nor a competitive firm.
The behavior of many savings-and-loans in the 1980s appears to be evidence __________ the existence of __________ problem in deposit insurance
A) supporting; a moral hazard B) supporting; an adverse selection C) against; a moral hazard D) against; an adverse selection
The diamond/water paradox states that things with the ________ value in use frequently have ________ value in exchange.
A. greatest; little or no B. greatest; the greatest C. least; little or no D. least; the least