Around the year 2000, Robert Mugabe needed money to bribe his enemies and reward his political allies, but he faced all of the following problems EXCEPT:
A. his policies had scared away investors.
B. the Central Bank refused to print any more money.
C. his people were unemployed and hungry.
D. there was nothing left to tax.
Ans: B. the Central Bank refused to print any more money.
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Costs that have already been incurred, and which cannot be recovered, are known as
A) short-run fixed costs. B) unavoidable costs. C) sunk costs. D) implicit costs.
Policymakers are discussing various proposals regarding how to deal with natural monopolies. Senator Huff wants to regulate natural monopolies by equating price with average total cost. Huff contends that such a policy will ensure that monopolies make every effort to reduce costs. Senator Puff wants the government to own natural monopolies. Puff argues that government-owned monopolies usually do
a better job of holding down costs than privately owned monopolies. Which senator's argument is correct? a. Senator Huff b. Senator Puff c. both senators d. neither senator
Other things the same, as the real interest rate rises
a. domestic investment and net capital outflow both rise. b. domestic investment and net capital outflow both fall. c. domestic investment rises and net capital outflow falls. d. domestic investment falls and net capital outflow rises.
When aggregate demand shifts left along the short-run aggregate supply curve,
a. unemployment and prices rise. b. unemployment rises and prices fall. c. unemployment falls and prices rise. d. unemployment and prices fall.