The rational expectations theorists have taken up two key items on the conservative economists' agenda: (1) _________ and (2) ____________.
Fill in the blank(s) with the appropriate word(s).
the monetary rule; a balanced budget
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If the elasticity of supply is much greater than the elasticity of demand, an excise tax levied on the suppliers will
a. cause the suppliers to incur a greater burden of the tax than demanders b. cause the demanders to incur a greater burden of the tax than suppliers c. the burden of the tax will be shared equally between the suppliers and the demanders d. cause the entire burden of the tax to rest on the demanders e. Without more information as to the amount of the excise tax, who will incur a greater burden will be unclear
If inventories decline by more than analysts predict they will decline, this implies that
What will be an ideal response?
An increase in the demand for musicians ________ the number of musicians employed, and ________ the wages paid to musicians.
A. increases; increases B. increases; decreases C. decreases; increases D. decreases; decreases
Mudbug College in Louisiana is trying to convince Louisiana taxpayers that the tax dollars spent at Mudbug College are well spent. One of the college's arguments is that for every $1 spent by Mudbug College an additional $4 of expenditures are generated within Louisiana. Mudbug College is arguing that the multiplier for their expenditures is
A. 0.25. B. 1. C. 4. D. 25.