In January 2009, the President submitted a bill to Congress in order to stimulate the economy and increase employment. The legislation was passed in March 2009, and the spending occurred from June 2009 to March 2011. As a result
A) the full effect of the fiscal policy change would not be felt until after March 2011 because of the effect time lag.
B) the full effect of the fiscal policy change would not be felt until after March 2011 because of the recognition time lag.
C) the full effect of the fiscal policy change would be felt by March 2011 because people anticipated the spending and changed their behavior accordingly.
D) the full effect of the fiscal policy change would be felt when the last of the funds were spent by the government.
A
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In the above figure, the curve has a slope that is ________
A) positive and becoming larger in magnitude B) positive and becoming smaller in magnitude C) negative and becoming larger in magnitude D) negative and becoming smaller in magnitude
Using the demand schedule in the table above, the total revenue a perfectly price discriminating monopolist receives from selling 5 units of output is
A) $5. B) $15. C) $18. D) $25.