When the economy is in the liquidity trap,
A) velocity is constant.
B) monetary policy is impotent.
C) fiscal policy is impotent.
D) income is zero
B
Economics
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The existence of wage-related rent
a. is explained by the fact that people have different opportunity costs b. is explained by the fact that some people who work also own land c. indicates that wage rates can be higher than rents d. is a contradiction because workers' incomes derive from labor e. result from the different productivities of workers
Economics
Which of the following has also been called the command and control approach?
a. Direct controls b. Voluntary compliance c. Tradable emissions permits d. Taxes on pollution
Economics