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All but which one of the following are transfer payments? food stampsfarm subsidiesSocial Security paymentswelfarethe President's salaryQuestion 2.2. Before Keynes, most economists and politicians believed ina cyclically balanced budget.an annually balanced budget.a structural deficit.a budget that was balanced only at full employment.Question 3.3. A laissez-faire attitude toward most markets is most closely associated withKeynesians.monetarists.classical economists.supply siders.Reaganomics.Question 4.4. Keynes advocated expansionary fiscal policy when an economy wasat full-employment output.experiencing a recession.experiencing inflation.at potential output.in wartime.Question 5.5. Opponents of discretionary fiscal policy believe that ittends to limit the size of the government.generates more surpluses than deficits.leads to deficits and increased government debt.tends to limit the size of the government and leads to more surpluses than deficits.Question 6.6. The sales tax burden on households is progressive.regressive.proportional.neutral.unrelated to a household's income.Question 7.7. Income security payments account for about what share of federal government spending in the United States? (Points : 1)one-halfone-thirdone-fourthone-fifthone-eighthQuestion 8.8. The federal income tax is progressive.regressive.proportional.very regressive.independent of income.Question 9.9. A structural deficit is the part of the deficit due to being in recession.disappears when the economy reaches full-employment.is the part of the deficit that would persist even at full-employment output.is the result of congressional changes in the budget sent to Congress by the President.is equal to the deficit other than the part accounted for by the surplus or deficit in the Social Security trust funds.Question 10.10. The national debt is a burden on future generations if it is larger than the one for which the current generation is responsible.it was incurred to put idle resources to work.borrowing reduced productive investment and future economic growth.debt holders are wealthier than the average taxpayer.the future generation is smaller than the present generation.
What is the output of each firm if they collude to produce the monopoly output? What profit does each firm earn with such collusion.
Explain how does monetary policy work to close an inflationary and recessionary gap using the keynesians model and what is the link.
Describe the rationale behind arriving at figures for the natural rate of unemployment, stable prices, and sustainable economic growth.
Compute the upper and lower limits within which marginal cost may vary without affecting the profit maximizing output or the price.
Suppose banks keep no excess reserve and no individuals or firms hold on to cash. If someone suddenly discovers $12 million in buried treasure and deposits it in a bank, elucidate what will happen to the money supply if the required reserve is 10 ..
Elucidate the differences among a currency board, a fixed exchange rate system and a pegged exchange rate.
Using appropriate diagrams and notations,carefully explain the relationship b/n elasticity, total revenue and marginal revenue. 2,discuss the uses of elasticity of demand.
Suppose that U.S. citizens start saving more. What does this imply about the supply of loanable funds and the equilibrium real interest rate. Explain what would happens to the real exchange rate.
Characteristics of Proprietorships what percentage of sole proprietorships is engaged in retail trade? Why might more sole proprietorships be engaged in services rather than manufacturing?
Illustrate what role does each marketplace structure play in the economy.
Assume the current rent is also equal Illustrate one would commonly expect for the future.
Elucidate how much should Joseph's income increase to compensate for the rise in the price of roses?
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