Tutor profile: Odhran K.
When I came home later that evening, I found an envelope, left by the delivery man, that was meant for my neighbor instead. A. When I came home later that evening I found an envelope left by the post man that was meant for my neighbor instead. B. When I came home later that evening, I found an envelope, left by the post man that was meant for my neighbor instead. C. When I came home later that evening I found an envelope left by the post man, that was meant for my neighbor instead. D. No change.
Answer: D Answer A is incorrect because the phrase "left by the post man" is an unnecessary detail and should be off-set by two commas. Answer B is incorrect because the comma after "man" is missing, changing the intention of the sentence. Answer C is incorrect because there is a comma missing after "envelope", which makes the other comma grammatically incorrect. Therefore, because of all of these reasons, answer D is correct.
Monetary policy influences GDP and price level by: A. Changing aggregate demand B. Changing aggregate supply C. Both D. Neither
Answer: A Monetary policy refers to actions taken by a central bank to control the money supply and interest rate in order to manage inflation and economic growth, among other factors. A central bank can accomplish this by buying and selling securities. Through monetary policy, the central bank can, for example, increase the money supply and decrease interest rates, which leads to higher levels of consumer spending and investment, or aggregate demand.
The amount of deadweight loss created from a sales tax is dependent on: A. Elasticity of Demand B. Elasticity of Supply C. Both D. Neither
Answer: C In this case, the amount of deadweight loss resulting from a sales tax will depend on BOTH the elasticity of demand and the elasticity of supply. When supply or demand is relatively inelastic, the change in price due to the tax will have less of an effect on quantity, meaning that the area of the deadweight loss is smaller.
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