(Last Word) In response to the Great Recession, the federal government engaged in significant deficit-funded spending. What was the result of that spending over the first three years?
A. Neither economic growth nor unemployment responded as well as many economists had
predicted.
B. Economic growth responded in accordance with predictions, but unemployment remained
much higher than anticipated.
C. Economic growth remained sluggish, but the unemployment rate fell to predicted levels.
D. Both economic growth and the unemployment rate responded well, reaching the fiscal
policy targets set by the government.
A. Neither economic growth nor unemployment responded as well as many economists had
predicted.
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Consider the market for purple magic markers. The demand for purple magic markers is perfectly elastic and the supply curve is upward sloping
If sellers of purple magic markers are taxed $1 per marker, how will the tax be divided between the buyer and seller? A) The sellers will pay the entire tax. B) The buyers will pay the entire tax. C) The tax will be evenly divided between the sellers and buyers. D) More information is needed to determine how the tax is split.
Crucial assertions in the menu-cost literature are that those costs ________ be large for them to have an effect on firms' pricing, while potential total welfare losses ________ menu costs that have been avoided
A) need not, may be several times larger than B) need not, are generally much less than C) must, may be several times larger than D) must, are generally much less than