Which of the following was not a criticism of the unconventional monetary policy used by the Fed in 2009 and 2010?
A. Tendency toward higher unemployment
B. Tendency toward higher inflation
C. Usurping authority which should be allocated to Congress
D. Determining which banks would be allowed to fail
Answer: A
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When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
Why is the following statement incorrect: "A tax on all consumption goods is efficient because it equally taxes all goods and therefore does not distort their prices."
What will be an ideal response?
In repeated games:
A. players no longer need commitment strategies to reach a mutually beneficial equilibrium. B. negative-negative outcomes are the only outcomes possible. C. players will never reach a mutually beneficial equilibrium. D. there are no dominant strategies.
Which of the following examples of product differentiation uses service?
a. A sporting goods store offers the “official” hats of major league baseball teams. b. A import store opens a branch in the suburbs. c. A website sells “heavenly chocolates.” d. A website selling T-shirts offers easy and quick exchanges.