Because the United States has had substantial deficits in goods and services, it has also necessarily had surpluses in
A. the federal budget.
B. the sales of assets.
C. the sales of military goods.
D. its gold supplies.
Answer: B
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Smoothing the peaks and troughs of the business cycle with fiscal policy is
A. difficult, because the government lacks important information about the economy. B. difficult, because economists have not developed any theoretical models of the macroeconomy. C. relatively simple, because the political process usually works smoothly and without significant lags. D. relatively simple, because the government has access to the best information available.
As price falls along a given demand curve for pretzels,
a. quantity demanded, total utility, marginal utility, and consumer surplus increase; consumer expenditure decreases b. quantity demanded, total utility, and consumer surplus increase; marginal utility and consumer surplus decrease c. quantity demanded, total utility, consumer surplus, and consumer expenditure increase; marginal utility decreases d. quantity demanded, total utility, and consumer surplus increase; marginal utility decreases; consumer expenditure might increase, decrease, or remain constant e. quantity demanded, total utility, marginal utility, consumer surplus, and consumer expenditure all increase
If a monopolist increases quantity by one unit, _____
a. the monopolist's marginal revenue will fall b. the price of all units will increase c. the marginal revenue of selling the last unit will be more than its price d. the marginal revenue curve will rise above the demand curve
Which of the following is correct?
A. The asset demand for money is downsloping because the opportunity cost of holding money declines as the interest rate rises. B. The asset demand for money is downsloping because the opportunity cost of holding money increases as the interest rate rises. C. The transactions demand for money is downsloping because the opportunity cost of holding money varies inversely with the interest rate. D. The asset demand for money is downsloping because bond prices and the interest rate are directly related.