(Consider This) The lines on a topographical map are analogous to a(n):
A. series of demand curves.
B. series of supply curves.
C. indifference map.
D. series of budget constraints.
Answer: C
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When a competitive equilibrium is achieved in a market
A) the total net benefit to society is maximized. B) the total benefits to consumers are equal to the total benefits to producers. C) economic surplus equals the deadweight loss. D) all individuals are better off than they would be if a price ceiling or price floor was imposed by government.
Under fiscal stabilization policy in the New Keynesian model, after a negative shock to output,
A) the government increases expenditures and the central bank increases the money supply. B) the government increases expenditures and the central bank decreases the money supply. C) the government decreases expenditures and the central bank increases the money supply. D) the government decreases expenditures and the central bank decreases the money supply.
Which of the following countries has had the more successful transition?
a. Poland b. Russia c. Kazakstan d. Georgia e. Kyrgystan
By 2012, the dollar value of the debt:
A. back down to 40 percent of GDP. B. was reduced to $500 billion. C. the lowest in the U.S. history. D. past 100 percent of GDP.