The Reagan tax cut of 1981 was an attempt to:
a. stimulate aggregate supply
b. stimulate aggregate demand.
c. stabilize the value of the U.S. dollar.
d. increase demand for U.S. exports.
e. reduce the federal budget deficit.
a
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Refer to Table 14-3. Which of the following statements is true?
A) The Nash equilibrium is a noncooperative, dominant strategy equilibrium. B) The Nash equilibrium is a cooperative equilibrium. C) There is no Nash equilibrium in this game because each party pursues its dominant strategy. D) The Nash equilibrium is a collusive equilibrium.
The members of Federal Reserve district bank boards of directors who are bankers are known as
A) Class A directors. B) Class B directors. C) Class C directors. D) Class D directors.
Firms seek to differentiate their product
A) to avoid state and federal regulation. B) to create an illusion of value. C) to strengthen their demand and to make it more inelastic. D) to strengthen their demand and to make it more elastic.
Figure 10-5
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Figure 10-5 shows supply and demand conditions in a perfectly competitive industry and for a firm in that industry. At point C, the firm would
A. earn zero economic profit. B. earn negative economic profit. C. have a zero opportunity cost of capital. D. have a negative opportunity cost of capital.