The use of the federal budget to achieve macroeconomic objectives of full employment and sustainable economic growth is
A) done only when there is a budget surplus.
B) called government GDP policy.
C) called fiscal policy.
D) done only when there is a budget deficit.
E) called monetary policy.
C
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The opportunity cost of producing capital is
a. decreased current production of consumption goods b. increased future production of consumption goods c. the amount of roundabout production d. abundant capital accumulation e. the decreased amount of future capital available
Suppose the market for "soda X" is in equilibrium. If the FDA announced today that this soda has been proven to cause a fatal disease, what would be most likely to happen to the equilibrium price and equilibrium quantity of soda X?
a. price increases and quantity increases b. price decreases and quantity increases c. price increases and quantity increases d. price decreases and quantity decreases e. no change in price and quantity