Which view of aggregate supply predicts that the outcomes of fiscal and monetary policy depend on how close the economy is to full employment?
A. The hybrid view.
B. The monetarist view.
C. The Keynesian view, the monetarist view, and the hybrid view.
D. The Keynesian view.
Answer: B
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Economic analysis and policy are made more difficult by
A. having so much data to work with. B. inadequate and imperfect information. C. an incomplete consensus on the basic goals of social policy. D. the lack of public interest and opinion on economic questions. E. the major economic problems society faces.
Mary has an old house built in 1950 that she would be willing to sell for $100,000. If someone offers to buy her house at $110,000, Mary's producer surplus would be equal to:
A) $5,000. B) $10,000. C) $55,000. D) $100,000.
Suppose that the annual dividend per share of stock is $1.80 and the closing price of the stock is $32.00, the yield on the stock would be approximately
A. 10.5% B. 5.7% C. 21.6% D. 9.7%
There is a shortage in a market for a product when:
a. The increase in demand is greater than the increase in supply b. Quantity demanded is less than quantity supplied c. Quantity demanded is greater than quantity supplied d. The increase in supply is greater than the increase in demand