Answer: B. an output of the product that is less than the amount consistent with ideal economic efficiency
Explanation: Economic efficiency is the state in which all available resources are optimally allocated to serve each individual or entity in the best way while reducing to the minimum, waste and inefficiency. In reality, economic efficiency has shown that nothing can be improved without something else being hurt.
When competitive forces are weak, it leads to decrease in output as economic efficiency is only maximized when price is equal to marginal revenue because at this point both profit and efficiency are maximized.
Answer:
Fiscal policy refers to the measures employed by governments to stabilize the economy, specifically by manipulating the levels and allocation of taxes and government expenditures. Fiscal policy relates to the decisions which determine whether a government will spend more or less than it receives.
Fiscal policies are influenced by the executive and legislative branch of a country.
Explanation:
One of the ways the executive branch influences fiscal policy is that the President and the Secretary of the Treasury directs the fiscal policies of the United States. Since the fiscal policy is tied into each year's federal budgets, the President proposed this budgets to be approved by the Congress.
One of the ways the Legislative branch influence fiscal policy is that the approve the Federal budget proposed by the President. In United States, Congress passes laws and appropriates spending for any fiscal policy measures. This process involves participation, deliberation and approval from both the House of Representatives and the Senate.
Monetary policy refers to the policy undertaken by the monetary authority of a country to control money supply in order to achieve macroeconomics goals which in turn promote sustainable economic growth. Monetary policy reduces liquidity to prevent inflation.
Reasons why the Federal Reserve Board is given independence in establishing monetary policy are
1. They are free from short term legislative/executive pressures. Without the degree of autonomy, the Federal Reserve Board could be influenced by election focused politicians into enacting an excessively expansionary monetary policy to lower unemployment in the short term. Tho could lead high inflation.
2. They Federal Reserve Board runs a technocrat appointment rather than a political appointment. The monetary decision of the Federal Reserve Board is not ractified by the President. They receive no funding by the Congress and members of the Board of governors who are appointed, serve 14-year term. This terms do not coincide with presidential terms, thus making them further independence.
Do you have a list of choices to pick from?
Otherwise "Personal financial plan" would likely suffice.
Answer:
On April 22, 1915, German forces shock Allied soldiers along the western front by firing more than 150 tons of lethal chlorine gas against two French colonial divisions at Ypres, Belgium. This was the first major gas attack by the Germans, and it devastated the Allied line.
Explanation:
Labor unions can affect the economy by possibly providing higher wages for its workers, but it will simultaneously lower the profits made by the company, and create fewer jobs. This is because labor unions encourage the benefit of the workers (as the workers join together to fight for better treatment), but it will discourage other companies/businesses from investing in the company. So although it benefits the workers morally, it can negatively affect the success of businesses in the economy.
