Refer to Figure 9-2. Without the tariff in place, the United States produces
A) 9 million pounds of rice. B) 15 million pounds of rice.
C) 31 million pounds of rice. D) 42 million pounds of rice.
A
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What is the most important characteristic of monopolistic competition? How do firms behave differently from perfect competitors?
What will be an ideal response?
If the money supply grew by 6 percent and velocity fell by 2 percent, nominal GDP would: a. fall by 4 percent
b. rise by 4 percent. c. rise by 8 percent. d. rise by 12 percent.
Which of the following statements would appeal to someone who favors an expanded public sector as the basis of expansionary fiscal policy?
a. "The government isn't the solution; it's the problem." b. "The government that governs least governs best." c. "The American people want national defense; they want laws to be enforced; they want federal support for education and environmental protection, and they want transfer payments for the elderly and unemployed." d. "If you ever got anything good out of the government you can be sure that some rich so-and-so got more."
During the 19th century, ____ was the mainstream school of economics.
A. classical B. Keynesian C. monetarism D. supply-side