Macroeconomic stabilization involves
(a) reduction of inflation.
(b) reduction of government budget deficits.
(c) reduction of trade deficits.
(d) all of the above.
(e) none of the above.
D
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The main problem of a negative income tax system is that it
a. guarantees every household a minimum level of income b. causes excessive government meddling in people's lives c. is too complex to administer fairly d. lowers peoples' work incentives e. ignores the culture of poverty that produces less income
The primary difference between a monopolistically competitive firm and a monopoly is:
A. only the monopolistically competitive firm is a price taker. B. the ability for competition to enter the market in the long run. C. the ability for competition to enter the market in the short run. D. only the monopolist can set his price equal to demand.