When stock markets crash because of changes in the expected future sale price of an asset rather than changes in fundamental stock price determinants, economists refer to the situation as
A. God's will.
B. a ghost.
C. just desserts.
D. a bubble.
Answer: D
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Which of the following would most likely be provided by a natural monopoly?
A) Michigan Radio is the state's most listened-to public radio service. B) Sirius Satellite Radio is accessed through a subscription. C) X96 is an alternative radio station out of Salt Lake City. D) a Mariah Carey CD
Points on the production possibilities frontier have the property that they
A) are inherently unattainable. B) show the maximum amount of leisure that can be consumed for given amounts of goods consumed. C) show the maximum amount of goods that can be consumed for given amounts of government spending. D) show the maximum amount of leisure that can be consumed for given amounts of hours worked.
Poverty is relative and not absolute.
A. True B. False C. Uncertain
If a government must run a balanced budget, then tax revenues and government spending:
a. move roughly in opposite directions. b. move exactly in opposite directions. c. move exactly in the same direction. d. move roughly in the same direction.