A limitation of the discount rate as a policy tool is that the initiative for its use rests with
A) commercial banks.
B) consumers.
C) the U.S. Treasury.
D) state governments.
A
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The sustainable upper limit of real GDP is a level of GDP that is
A) greater than potential GDP, but by how much greater is unknown and controversial. B) less than potential GDP, but by how much less is unknown and controversial. C) potential GDP. D) determined only by what is the full employment equilibrium in the labor market. E) None of the above answers is correct because there is no sustainable upper limit to real GDP because real GDP can always be increased.
Regretting the last unit of consumption of beer implies that
A) the total utility from drinking beer is negative. B) beer is an inferior good. C) the marginal utility of the last unit of beer consumed is negative. D) the demand curve for beer is horizontal.