If tax cuts are stimulative, tax increases are
A. reactionary.
B. contractionary.
C. deflationary.
D. inflationary.
Answer: B
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We translate nominal income in any past year into constant, real dollars to:
A. allow us to compare changes in purchasing power over time. B. see what an income we were earning in the past would be equivalent to today. C. understand what a salary in the past would equal in current dollars to determine how much more we have actually gained in purchasing power. D. All of these statements are true.
A focus on quality means:
A) A firm does nothing but produce the highest quality product. B) An inability to actually produce anything. C) A firm must decide whether an additional focus on quality is worth the cost. D) The firm will definitely be successful. E) Consumers will not be willing to purchase the product.
Suppose you were the president of the Dayton National Bank, the only bank in Dayton, Ohio. You wanted to borrow money from the Fed. You pick up the phone to ask the Fed what today's _____________ is because that's the rate the Fed charges member banks who borrow from it
a. prime rate b. federal funds rate c. discount rate d. federal reserve rate e. federal bank rate
The best number of workers for any employer to hire is that quantity in which:
A. the marginal revenue product equals the marginal factor cost. B. the marginal revenue product exceeds the marginal factor cost. C. total costs are minimized. D. total revenue is maximized.