Which of the following represents the most contractionary fiscal policy?
A. A $30 billion tax cut.
B. A $30 billion increase in government spending.
C. A $30 billion tax increase.
D. A $30 billion decrease in government spending.
D. A $30 billion decrease in government spending.
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An increase in government spending causes the equilibrium level of aggregate output to ________ at any given interest rate and shifts the ________ curve to the ________, everything else held constant
A) rise; LM; right B) rise; IS; right C) fall; IS; left D) fall; LM; left
A rational citizen may decide not to vote __________.
a. but is then behaving in an irrational manner even if they are utility maximizing b. if the issues are not interesting to them even though the cost of obtaining information and voting are low c. if the cost of obtaining information about the issues and voting are greater than the chance their one vote will influence the election d. if the benefits of voting are low or non-existent even when the costs of voting are low
In order to sell additional units the monopolist must ___________ the price.
Fill in the blank(s) with the appropriate word(s).
The legality of which of the following actions would be determined using the rule -of-reason?
A) an agreement with a competitor firm to adjust output levels B) an agreement with a competitor firm to not sell to a particular customer C) an agreement with a competitor firm not to bid on a contract D) an exclusive dealings contract with a customer