Which of the following did NOT happen during the late 19th century in the U.S.?
a. Falling crop prices reduced farmers' incomes
b. From 1880 to 1896, the price level fell by 23 percent
c. Farmers lobbied for government policies to reduce inflation
d. Farmers had reduced ability to pay off debts
c
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If the Fed sells government securities to a member of the nonbank public, then the resulting effect on the quantity of money is
A) that there is no change in the quantity of money. B) much larger than if the securities were sold to a bank. C) much smaller than if the securities were sold to a bank. D) the same as if the securities were sold to a bank. E) None of the above answers is correct.
If Happy Campers advertises a 120 day low-price guarantee that will refund any of its customers the difference between the price they paid for a camper and a lower price offered by Happy Campers for the same camper, this is an example of ________.
A) price visibility B) a meet-or-release clause C) a meet-the-competition clause D) a most-favored-customer clause
State personal income taxes are
A. payroll taxes. B. excise taxes. C. direct taxes. D. indirect taxes.
If the price of good X becomes lower, then the level of consumer surplus becomes
A. unchanged. B. lower in the short-run but higher in the long run. C. lower. D. higher.