Principles of Economics MCQ
Deadweight loss is the decrease in _____ that results from an inefficient _____ or _____.
Answer
Correct Answer:
Total surplus; underproduction; overproduction
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As the demand for goods and services increases, job growth _____.
Answer
Correct Answer:
Increases
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Expansionary monetary policy refers to the ________ to increase real gdp.
Answer
Correct Answer:
Federal reserve's increasing the money supply and decreasing interest rates
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A ______________________ means that government spending and taxes are equal.
Answer
Correct Answer:
Balanced budget.
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The vertical intercept of the consumption function equals ______ and the slope equals _____.
Answer
Correct Answer:
Autonomous consumption;the mpc
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