If the government engages in contractionary fiscal policy a likely reason would be:
A. they think the economy is not growing fast enough and they want to speed it up.
B. people are not spending enough money and they want to boost spending.
C. the economy is operating at a level that is just below full employment.
D. they think the economy is growing too quickly and they want to slow it down.
D. they think the economy is growing too quickly and they want to slow it down.
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For perfectly competitive firms, price
A. And marginal revenue are not related. B. Is less than marginal revenue. C. Is equal to marginal revenue. D. Is greater than marginal revenue.
The deadweight loss from a monopoly loss measures the inefficiency created by monopoly
Indicate whether the statement is true or false
One of the most controversial public policy issues in recent decades is the size and growth of the U.S. budget deficit and public debt. Discuss where we are, compared to other countries, and how we got here
Economic theory posits that a resource which is finite and being depleted will rise in price continuously, and demand will be reduced. In fact, a recent study, graphing the price behavior of lead, zinc and copper found that until about 2007, a. prices rose steadily, as predicted
b. prices dropped precipitously. c. prices remained remarkably stable. d. prices were up and down with no discernible pattern.