Economists argue that rent control is a highly efficient way to help the poor raise their standard of living
a. True
b. False
Indicate whether the statement is true or false
False
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Lowering the discount rate has the effect of ________.
A. forcing commercial banks to call in outstanding loans from their best customers B. turning required reserves into excess reserves C. turning excess reserves into required reserves D. making it less expensive for commercial banks to borrow from central banks
According to the textbook authors, pollution is a growing "social" problem because
A) only society, rather than individuals, pollutes. B) pollution is inefficient. C) pollution is economically efficient. D) more people are beginning to question the moral and legal rights of polluters.
Economies where goods and services are traded directly for other goods and services are called ________ economies
A) barter B) seigniorage C) direct D) trade
Classical economists would cite all of the following as reasons why the government cannot smooth out the business cycle except that
A) only productivity shocks can cause real fluctuations in the business cycle. B) the government has imperfect knowledge of the economy. C) political constraints on policy actions prevent the government from carrying out effective policies. D) time lags between the onset of a recession and the implementation of effective countermeasures make anti-recessionary macroeconomic policies impractical.