An advantage monetary policy has over fiscal policy is that monetary policy
A) can be quickly changed and implemented.
B) is coordinated with fiscal policy.
C) is approved by the president of the United States.
D) affects consumption expenditure and investment without impacting international trade.
E) has no multiplier effects.
A
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Issuing marketable emission allowance permits to polluting firms will result in those firms polluting more than would be desired by the benevolent social planner
Indicate whether the statement is true or false
Which of the following is the formula used for computing an accounting profit?
A) accounting profits = total revenue - implicit costs B) accounting profits = total revenue - (implicit + explicit costs) C) accounting profits = total costs - total revenue D) accounting profits = total revenue - explicit costs
It's logical, it's a rule of thumb, it's an economic guideline: As long as MR < MC, and the firm responds by increasing the quantity it produces,
a. profit will equal zero b. profit will increase c. profit will decrease d. profit will remain unchanged e. the firm will minimize loss
Who makes decisions and trade-offs in the face of scarce resources?
A. Governments B. Individuals C. Businesses D. All of these are correct.