Which one of the following industries could be classified as an oligopoly?
A) Tobacco production
B) Retailing
C Farming
D) Fast food restaurants
Ans: A) Tobacco production
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Temporary tax cuts tend to stimulate consumer spending at the same rate as permanent tax cuts
Indicate whether the statement is true or false
The demand curve for U.S. dollars slopes downward because as the dollar ________ U.S. goods become ________ expensive to foreign residents, so they purchase fewer U.S. goods, and the quantity of dollars demanded decreases
A) appreciates; more B) appreciates; less C) depreciates; more D) depreciates; less
If the current unemployment rate is 5%, under which of the following circumstances would you expect the Fed to use contractionary monetary policy?
A) if the inflation rate is above 5% B) if the inflation rate is below 5% C) if the natural rate of unemployment is below 5% D) if the natural rate of unemployment is above 5%
When analyzing the impact of a budget deficit, an economist will focus on
A. strictly the ratio of the deficit to GDP (it doesn't matter what is purchased with the borrowed money). B. strictly the amount borrowed. C. strictly the inflation-adjusted amount borrowed. D. the ratio of the deficit to GDP and whether what is purchased with the borrowed money can be considered an investment.