Policies designed to promote import substitution often encouraged capital-intensive production methods.
Answer the following statement true (T) or false (F)
True
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To increase the money supply, the Fed can
a. buy government bonds or increase the discount rate. b. buy government bonds or decrease the discount rate. c. sell government bonds or increase the discount rate. d. sell government bonds or decrease the discount rate.
Refer to Price Ceiling. The price ceiling creates a deadweight loss equal to
The following questions refer to the accompanying diagram which shows the effects of a price ceiling. The initial price and quantity are P0 and Q0, respectively, and the price ceiling is imposed at the price P1. Assume that none of the potential deadweight loss can be avoided.
a. area A + H.
b. area B + C + D + E.
c. area B + D.
d. area C + E.
Economists use M2 to measure the amount of money that is regularly used in transactions
Indicate whether the statement is true or false
The marginal product of labor is the change in
A) total cost from employing one more worker. B) total revenue from employing one more worker. C) average product from employing one more worker. D) total output from employing one more worker. E) total output divided by the change in cost from employing one more worker.