When the economy is on the steeper part of the short run aggregate supply curve, efforts to bring inflation down with monetary policy will be ____ successful and efforts to stimulate the economy will be ____ successful
a. More; more
b. More; less
c. Less; more
d. Less; less
b
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The concept of holding reserves, such as gold, that are less than the value of the total deposits
A) is known as fractional reserve banking. B) has been illegal since the passage of the Financial Services Modernization Act of 1999. C) is known as non-credit banking. D) None of the above are correct.
For a firm in a perfectly competitive market, if it is producing at a level of output where marginal costs are less than marginal revenue it:
A. is producing a profit-maximizing quantity. B. should invest more in advertising in order to raise revenues. C. should cut back production to increase profits. D. should increase production to increase profits.
Situation 33-1 Suppose that the equation that represents the expected benefits of burglary for a given prospective criminal is as follows: EB = Ps x Loot The criminal's cost equation is as follows: EC = [Pp x (I + F)] + AC Where: EB is the expected benefits of burglary Ps is the probability of successfully burglarizing a house Loot is the dollar take from the burglary EC is the expected costs of
burglary Pp is the probability of imprisonment I is the income the criminal gives up if caught and imprisoned F is the dollar value the criminal puts on freedom AC is the anguish cost of committing a burglary Refer to Situation 33-1. If the prospective criminal sets the following values: Ps = 50 percent Loot = $30,000 Pp = 10 percent I = $10,000 F = $25,000 AC = $5,000 The prospective criminal's expected benefit from committing the burglary is ______________ and his expected cost of committing the burglary is _______________. Economic theory tells us that under these circumstances, the prospective criminal ______________ commit the burglary. A) $15,000; $8,500; will B) $15,000; $8,500; will not C) $15,000; $40,000; will not D) $17,500; $12,000; will
The prisoner's dilemma game can involve:
A. only two players. B. multiple organizations. C. more than two players. D. All of these statements are true.