Oligopolies are characterized by many firms.
Answer the following statement true (T) or false (F)
False
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The income tax system serves as an automatic stabilizer over the course of the business cycle
Indicate whether the statement is true or false
In cost-effectiveness analysis, constant cost studies:
a. are rarely used b. attempt to specify the output which may be achieved from a number of alternative programs, assuming all are funded at the same level c. are useless because they fail to adequately evaluate program benefits d. try to find the least expensive way of achieving a certain objective e. none of the above
The money multiplier will be
a. larger if banks hold on to excess reserves but smaller if private citizens hold on to cash. b. smaller if banks hold on to excess reserves but larger if private citizens hold on to cash. c. smaller if either banks hold on to excess reserves or private citizens hold on to cash. d. larger if either banks hold on to excess reserves or private citizens hold on to cash. e. constant whether or not banks and citizens try to alter their holdings of excess reserves and cash.
In what context does the use of real exchange rates make the most sense?
a. For determining if one nation's real GDP has increased faster than another nation's real GDP. b. For determining if one nation's nominal GDP has increased faster than another nation's nominal GDP. c. For calculating whether to purchase foreign or domestic stocks and bonds. d. For determining changes in a nation's relative international competitiveness. e. For calculating the cost of buying foreign goods and services.