From 1950 to 2007, the United States experienced ________ business cycle expansions, followed by ________ recessions
A) long; long
B) long; brief
C) brief; long
D) brief; brief
B
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For every dollar's worth of government securities the Fed sells, the money supply
A) rises by more than $1. B) rises by less than $1. C) falls by less than $1. D) falls by more than $1.
The statutory incidence of a tax ______________ the economic incidence of the tax.
A. determines B. often can predict C. is the same as D. has no effect on
In which of the following market structures is(are) there a large number of sellers? (i) monopolistic competition (ii) perfect competition (iii) oligopoly
a. (i) and (ii) only b. (ii) and (iii) only c. (ii) only d. (i), (ii), and (iii)
The Wall Street Journal magazine offers a significant discount to students who purchase a one-year subscription. If the reason for the discount is price discrimination, we can conclude that:
A. students have a less elastic demand for newspapers than does the general public. B. there is no difference between a student's elasticity of demand for newspapers and any other person's elasticity of demand. C. students have a more elastic demand for newspapers than does the general public. D. students have a perfectly inelastic demand for newspapers.