Activists believe that monetary and fiscal policy will only work if it comes as a surprise to the public
a. True
b. False
Indicate whether the statement is true or false
False
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Using the five criteria in the book, explain how U.S. currency is suitable to use as a medium of exchange
What will be an ideal response?
Consumers receive more consumers' surplus when __________
A) tariffs exist. B) tariffs and quotas do not exist. C) quotas exist. D) a and c
When suspects are interviewed in different rooms, they do not know what the other suspects are going to do and hence seek the best deal for themselves. This illustrates:
A. the idea of a noncooperative game. B. that the police are not taking into account the suspects' rights. C. the idea of a cooperative game. D. that criminals are irrational.
Government means tested programs ________ the overall poverty rate.
A. substantially decrease B. have not changed C. lead to an increase in D. drop to zero