If the printed circuit board market is perfectly competitive,
a. too many printed circuit boards will be produced
b. printed circuit boards will be allocated efficiently
c. too few printed circuit boards will be produced
d. economic efficiency will not be achieved
e. printed circuit boards will be evenly distributed among consumers
B
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Gary has to decide between attending a two-day art workshop and a four-day art workshop. If he evaluates only the change in net benefit when he switches between the two options, he is using the technique of:
A) ordinal analysis. B) comparative statics. C) optimization in levels. D) optimization in differences.
Which of the following would be classified as fiscal policy?
A) The federal government cuts taxes to stimulate the economy. B) States increase taxes to fund education. C) A state government cuts taxes to help the economy of the state. D) The Federal Reserve cuts interest rates to stimulate the economy. E) The federal government passes tax cuts to encourage firms to reduce air pollution.