Pessimistic consumer expectations and decreased government spending are both associated with:
a. a downward movement along the aggregate demand curve.
b. an upward movement along the aggregate demand curve.
c. a leftward shift of the aggregate demand curve.
d. a rightward shift of the aggregate demand curve.
e. a steeper slope of the aggregate demand curve.
c
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By imposing tolls on the drivers that drive during the busiest times, a government would be attempting to:
A. internalize an externality. B. institute a progressive tax. C. externalize an internality. D. encourage driving to generate revenue.
A player chooses a maximin strategy to ________ gain the player can earn.
A. maximize the maximum B. minimize the maximum C. maximize the minimum D. minimize the minimum
The level of the capital—labor ratio that maximizes consumption per worker in the steady state is known as the
A) Solow residual capital—labor ratio. B) Golden Rule capital—labor ratio. C) q theory capital—labor ratio. D) dynamically efficient capital—labor ratio.
These are characteristics of a competitive industry, except:
a. Many substitutes b. No barriers to entry c. Homogenous product d. Little or no information on rivals' products