The critical elements of discretionary fiscal policy are
A. tax policy and spending policy.
B. a progressive income tax and a welfare state.
C. interest rates and tax rates.
D. interest rates and the money supply.
Answer: B
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Which of the following must a firm in a market economy do today to succeed?
A) efficiently organize production B) produce existing goods and services at a lower cost C) produce new or better goods or services D) Market firms today must do all of these things.
Adverse selection refers to a situation in which
a. employers have more information about a job's salary than the job candidate does b. a job candidate has more information about the job's salary than the employer does c. employers have more information about a job candidate's abilities than the candidate does d. a job candidate has more information about her abilities than the employer does e. only below-average job candidates apply for a job