To increase output, policymakers can _____ the money supply, _____ taxes, and/or _____ government purchases
Fill in the blank(s) with correct word
increase, decrease, increase
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A good has a downward-sloping demand curve and a perfectly elastic supply. Imposing a sales tax of $1 per unit on the sellers of the good
A) raises the price paid by demanders by more than $1.00. B) raises the price paid by demanders by $1.00. C) raises the price paid by demanders by less than $1.00. D) does not change the price paid by demanders.
Which of the following statements is FALSE?
A) Cartels only form among members of an oligopoly. B) A cartel might form if members believe they can increase profits by coordinating activity. C) Members of a cartel produce less output than that produced in a competitive market. D) Cartel members often have an incentive to cheat.
The total factor productivity of railroads increased dramatically in the antebellum period. All of the following factors are responsible for the increase in productivity except:
a. standardization of the gauge of railroad tracks. b. the introduction of refrigerated railroad cars. c. increased size of railroad cars. d. increased use of existing capital.
A college student's choice of a major and an occupation reflects:
a. each college student's future expectation of wage inflation. b. a lack of information on the part of the students. c. a lack of proper education and vocational training. d. the return on investment in human capital. e. the opportunity costs each college student faces.