The argument that budget deficits are inflationary is
a. always correct.
b. correct only when the deficit is monetized.
c. correct only when the aggregate supply curve is horizontal.
d. correct only when the aggregate supply curve is upward sloping.
d
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The Boy Scouts have so far sold 100 tickets for their upcoming raffle, but they sell an additional 12 tickets every day. The ________ is a stock variable, and the ________ is a flow variable.
A. number of tickets sold each day; total number of tickets available B. total number of tickets sold by the time of the raffle; number of tickets sold each day C. number of tickets sold each day; number of tickets sold so far D. number of tickets sold so far; total number of tickets sold by the time of the raffle
An owner of local salon realized that by decreasing the prices for haircuts, his revenue increased. This implies that
a. The demand for haircuts is elastic b. The demand for haircuts is inelastic c. The demand for haircuts is unitary elastic d. The demand for haircuts is perfectly elastic
Which of the following does the Sherman Antitrust Act forbid?
a. Monopolization or attempts to monopolize b. All types of price discrimination c. Competition among firms d. Unfair methods of competition e. Privatization of government owned firms
The marginal propensity to consume is defined as the
What will be an ideal response?