Suppose that the marginal revenue product of the fourth acre of land is $180 and the rent paid on that land is $200 an acre. We can say that
A. not enough land is being rented.
B. just enough land is being rented.
C. too much land is being rented.
C. too much land is being rented.
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Dividing fiscal policy into two instruments has the effect of introducing another policy target:
A) the interest rate. B) the national debt. C) the unemployment rate. D) the division of output between public and private spending.
Which of the following statements best describes the political control of the Federal Reserve?
a. Policy decisions of the Fed do not require congressional approval, and the president cannot ask for the resignation of a Federal Reserve governor as the president can with cabinet positions. b. Policy decisions of the Fed require congressional approval, but the president cannot ask for the resignation of a Federal Reserve governor as the president can with cabinet positions. c. Policy decisions of the Fed do not require congressional approval, and the president can ask for the resignation of a Federal Reserve governor as the president can with cabinet positions. d. Policy decisions of the Fed require congressional approval, and the president can ask for the resignation of a Federal Reserve governor as the president can with cabinet positions.
Members of the European Union (EU), rely heavily on this form of indirect taxes
a. Value-added tax b. Excise tax c. Property tax d. Sales tax
Each of the following is a determinant of demand except
a. tastes. b. production technology. c. expectations. d. the prices of related goods.