A "tight" money, easy "fiscal" policy combination will be preferred by society which values
A) low growth rates, but more goods and services in the future.
B) public goods today greater than private goods in the future.
C) private goods today more than public goods in the future.
D) public and private goods in the future more than public and private goods today.
B
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According to the infant-industry argument, protection should be withdrawn from an infant industry when the companies in the industry
A) are listed on the domestic stock exchange. B) become profitable. C) double their sales revenues. D) reach a sufficient size to compete with foreign firms.
Gertrude Stork's Chocolate Shoppe normally employs 4 workers. When the Chocolate Shoppe hired a 5th worker, the Shoppe's total output decreased. Therefore
A) the marginal product of the 5th worker is negative. B) the total output of Gertrude Stork's Chocolate Shoppe is negative. C) the average product of the 5th worker is negative. D) the 5th worker should be hired only if he is willing to accept a wage lower than the wage paid to the other 4 workers.