Since 1960 the distribution of income in the United States has
A. become more equal.
B. become less equal.
C. remained about the same.
B. become less equal.
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A policy in which the money supply is kept growing at a constant rate regardless of the state of the economy is
A) a Taylor rule. B) a discretionary policy. C) a policy rule advocated by monetarists. D) advocated by activists.
In the long run, in the model of monopolistic competition, for a typical firm, price is
a. above average cost but equal to marginal cost. b. above marginal cost but equal to average cost. c. above marginal cost. d. equal to marginal cost and equal to or greater than average cost.
If regulation imposes marginal cost pricing on a natural monopoly, then the monopoly will:
a. suffer persistent economic losses. b. earn a fair, but not excessive, return on its assets. c. produce too little output to achieve efficiency. d. experience diseconomies of scale.
Monetary policy attempts to control
A) the money supply and interest rates. B) the budget deficit and the money supply. C) the yield curve and interest rates. D) none of these choices.