In general, monetary policy has a longer ________ lag than fiscal policy but shorter ________ lag.
A. response; implementation
B. recognition; response
C. implementation; recognition
D. implementation; response
Answer: A
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Listed in the above table are the market shares for the firms in two different industries. Each industry has only eleven firms. Find the four-firm concentration ratio and the Herfindahl-Hirschman Index for each industry
What will be an ideal response?
If the quantity of investment has fallen but interest rates have risen, then
a. this cannot be explained in the classical model. b. savings fell. c. savings rose. d. investment demand rose.
The factors of production are the:
A. ingredients that go into making any good or service. B. outputs that society as a whole have chosen to produce. C. costs and benefits of a given production process. D. list of inputs required for a given durable good.
The change in total cost that results from the production of one additional unit is called:
a. marginal revenue. b. average variable cost. c. marginal cost. d. average total cost.