Between 1929 and 1933, nominal interest rates ___, and real interest rates ___
a. rose, rose
b. rose, fell
c. fell, rose
d. fell, fell
c. fell, rose
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The table above gives the cost schedule for The X Firm. The data show that The X Firm's ________ curve is ________
A) ATC; U-shaped because the firm fixed costs are spread over larger amounts of output and the firm experiences decreasing marginal returns B) AFC; U-shaped because the firm spreads its fixed costs over larger and large amounts of output C) AVC; always declining because costs are divided across ever-increasing amounts of output D) MC; U-shaped because explicit costs exceed implicit costs E) ATC; U-shaped because output increases as costs increase
How do critics of discretionary stabilization policy view frequent changes in spending and tax policy?
A. The changes make the economy smoother, although it may not look that way to individual firms. B. The changes make life more difficult and hectic for Congress and the Fed. C. The changes smooth out the business cycle, making planning easier. D. The changes cause more instability in the economy and make planning more difficult.
The Doing Business As name identifies a company for:
a. Bank accounts b. Sales c. Patents d. None of these
Given a consumption function of C = $25 + 0.75YD, the average propensity to consume equals 1 when disposable income equals
A. $75. B. $25. C. $100. D. -$300.