The impact of monetary policy on the cost of capital is emphasized by
A) supply-side economists.
B) Monetarists.
C) Keynesians.
D) rational expectations theorists.
C
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Because of free riders, a private, unregulated market would not produce the efficient quantity of a public good
Indicate whether the statement is true or false
If one person's enjoyment of the benefits of a good does not interfere with another's consumption of it, the good is
A. nonexcludable. B. nonrival in consumption. C. excludable. D. rival in consumption.
Commitment devices are necessary when:
A. people cannot correctly identify their dominant strategy. B. following through on a threat or promise is not in a player's best interest. C. players cannot trust that other players will avoid playing a dominated strategy. D. commitments cannot be purchased.
In the above figure, Graph D with units of capital on the vertical axis and units of labor on the horizontal axis implies that
A) the marginal product of labor is increasing as more labor is employed. B) the marginal product of labor is decreasing as more labor is employed. C) the capital and labor are perfect substitutes. D) capital and labor have to be employed in fixed proportions.