From the Monetarist perspective, the aggregate supply curve is
A) vertical.
B) horizontal.
C) sensitive to changes in the money supply.
D) sensitive to changes in consumption.
A
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The cost of producing aspirin increases simultaneously as doctors find that one aspirin per day reduces the risk of heart attacks. The supply of aspirin ________ and the demand for aspirin ________ so that the equilibrium price of aspirin ________
A) increases; increases; rises B) decreases; increases; rises C) increases; decreases; might rise, fall, or stay the same D) decreases; increases; might rise, fall, or stay the same
Bill Bonecrusher graduates from college with a choice of playing professional football at $2 million a year or coaching for $50,000 a year. He decides to play football, but eight years later he quits football to make movies for $3 million a year
His opportunity cost at graduation was ________ and eight years later was ________. A) $50,000; $2 million B) $2 million; $2 million C) $2 million; $3 million D) $50,000; $50,000
In the area of taxation, the trade-off between equity and efficiency
a. never occurs since efficient taxes are often the most progressive. b. is relevant as efficient taxes are often regressive. c. is irrelevant. d. is relevant because efficient taxes are often progressive.
When union members of Local 654 arrived at work today, they found a sign on the door stating that the business had closed temporarily and the employees were not allowed to work. This is a pressure strategy known as a(n)
A. injunction. B. lockout. C. boycott. D. strike vote.