Which of the following is a limitation of discretionary fiscal policy?
i. law-making lags
ii. estimating potential GDP
iii. income gap
A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
D
Economics
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A perfectly competitive firm is producing at the point where its marginal cost equals its marginal revenue. If the firm boosts its output, its total revenue will ________ and its profit will ________
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
Economics
A business manager who observes that prices in general keep rising might infer, correctly, that now is a good time to ________
A) invest to expand the business B) raise the price of her product C) expect an increase in business profits D) expect a higher return on personal savings E) all of the above
Economics