During the late 1960s, real GDP increased, unemployment fell, and the inflation rate started to rise. Which would have been the appropriate federal government policy combination to improve economic performance by lowering the inflation rate?
A) increase government expenditures, decrease taxes, increase the quantity of money
B) increase government expenditures, decrease taxes, decrease the quantity of money
C) decrease government expenditures, increase taxes, decrease the quantity of money
D) do not change government expenditures or taxes , increase the quantity of money
E) increase government expenditures, decrease taxes, do not change the quantity of money
C
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A single-price monopoly has marginal revenue and marginal cost equal to $19 at 15 units of output where the price on the demand curve is $38. What is the firm's total revenue?
A) $38 B) $285 C) $570 D) $19 E) There is not enough information given to answer the question.
The downward slope of the demand curve is attributed to:
a. the inverse relationship between price and quantity demanded. b. the direct relationship between income and quantity demanded. c. the direct relationship between price and quantity demanded. d. the inverse relationship between income and quantity demanded. e. the direct relationship between consumer preferences and quantity demanded.
LRE. Suppose there is an increase in SRAS. As wages eventually react to the new situation, what will happen? Wages will _____ and SRAS will shift ___
a. increase; right b. increase; left c. decrease; right d. decrease left
Partial equilibrium analysis refers to ________ examining the equilibrium conditions in individual markets and for households and firms.
A. partially B. jointly C. simultaneously D. separately