Author Question: According to the economic way of thinking, elected government officials tend to favor A) ... (Read 119 times)

stephzh · **on:** Jun 29, 2018

According to the economic way of thinking, elected government officials tend to favor

A) contractionary monetary policies.
B) contractionary fiscal policies.
C) expansionary monetary and fiscal policies.
D) monetary and fiscal policies consistent with the public interest.

Question 2

Refer to the figure above. Which of the following is likely to happen if a price control of 80 is imposed in the market?

A) There will be a surplus of 25 units in the market.
B) There will be a shortage of 25 units in the market.
C) There will be a surplus of 10 units in the market.
D) There will be a shortage of 10 units in the market.