Which of the following is a desirable property of money?
a. Scarcity.
b. Portability.
c. Divisibility.
d. All of these.
d
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Which of the following bonds are called tax-exempts?
A) Municipal bonds B) U.S. savings bonds C) U.S. Treasury bonds D) Consols
Rent seeking lowers profits by
a. shifting the market demand curve to the right b. shifting the market supply curve to the left c. shifting the ATC curve upward d. shifting the ATC curve downward e. flattening the marginal revenue curve
An empirical study determines that price exceeds marginal cost at the levels of output of firms in long-run equilibrium in the widget industry. The widget industry may therefore
a. be monopolistically competitive. b. have firms whose goal is sales maximization. c. have firms that act as price leaders. d. All of the above are correct.