Vaccinating your children is an example of
A. a public good.
B. a positive externality.
C. logrolling.
D. a negative externality.
Answer: B
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According to the Taylor rule, if actual output is greater than the natural rate of output, then the Fed should
a. decrease inflation. b. increase interest rates. c. conduct open market sales. d. decrease interest rates. e. Both a and b
Which of the following is not a characteristic of perfect competition?
a. Firms and consumers all have perfect information about the good and market. b. Sellers can enter the market easily. c. All goods sold are identical. d. All consumers have identical individual demand curves.
The movement left from MD1 to MD3 happened because of a(n) ______ in price level and/or a(n) ______ in RGDP.
a. increase; increase
b. decrease; increase
c. increase; decrease
d. decrease; decrease
If a monopolist knows its price elasticity of demand is greater than one, then a(n) _____ in price will _____ total revenue.
a. decrease; increase b. increase; not change c. increase; increase d. decrease; decrease