Based on the Taylor rule, from 1965 to 1979, monetary policy was
A) too tight.
B) too easy.
C) just about right.
D) too tight from 1965 to about 1970 and too easy from about 1970 to 1979.
B
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When consumers realize additional income in a household and spend the additional monies, the portion of the additional income that is spent is measured by the
A) marginal propensity to consume. B) measure of individual wealth. C) credit increase theory. D) aggregate demand factor.
Tony's indifference curve for two goods (normal salt and low potassium salt) is linear, whereas Rachael's indifference curve for these same two goods is convex. We can infer that _____
a. Tony considers normal salt and low potassium salt to be perfect substitutes b. Tony considers normal salt and low potassium salt to be perfect complements c. Tony considers normal salt and low potassium salt to be public goods d. Tony considers normal salt and low potassium salt to be inferior goods
Improvements in technology provide benefits to:
A) consumers, through lower prices. B) workers, although some jobs may be eliminated. C) firms, through lower production costs. D) all of the above.
In which of the cases given below will the elasticity of demand for workers who produce yo-yos be most inelastic? The price elasticity of demand for yo-yos is:
A. 5, and labor's share of total costs is 20 percent B. 5, and labor's share of total costs is 75 percent C. .1, and labor's share of total costs is 20 percent D. .1, and labor's share of total costs is 75 percent