From 1960 to 1980, federal government spending on national defense _____
a. declined from about half to less than one quarter of all expenditures
b. declined from one-third to less than one quarter of all expenditures
c. increased from about half to nearly 60 percent of all expenditures
d. increased from about one quarter to nearly one-half of all expenditures
a
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Firms often seek to borrow money to expand their capital stock, and the price they pay for that money is the interest rate. What happens to the demand for money if the interest rate increases?
A. It increases. B. It decreases. C. It does not change. D. The quantity of money demanded will increase.
Discuss the inefficiencies created by a price floor
What will be an ideal response?
In the short run, an unanticipated cut in the rate of inflation would
A) increase the unemployment rate. B) decrease the unemployment rate. C) unambiguously improve the misery index. D) lower the natural rate of unemployment.
A firm's accounting profit is called a normal profit when its:
a. accounting profit is equal to zero. b. economic profit is equal to zero. c. opportunity cost is equal to zero. d. average cost is minimum. e. economic profit is equal to accounting profit.