"Any additional increases in government spending should be for defense," is ________ statement about ________ policy.
A. positive; fiscal
B. normative; monetary
C. normative; fiscal
D. positive; monetary
Answer: C
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If a perfectly competitive seller is maximizing profit and is making zero economic profit, which of the following will this seller do?
A) go to work in the next-best earning opportunity B) shut down, with a loss equal to total fixed cost C) continue at the current output, making zero economic profit D) increase production in order to make an economic profit E) remain open but decrease production in order to make an economic profit
The quantity of iPads that people plan to buy this month depends on all of the following EXCEPT the
A) price of a rival's tablet. B) price of an iPad. C) the technology used to produce an iPad. D) price of apps.
Utilitarianism is the idea that only
A) competition brings efficiency. B) efficiency brings equality. C) income equality is fair. D) efficiency is fair.
What is the multiplier? If MPC =0.75, what is the value of the multiplier in the simple model of the economy?
What will be an ideal response?