George Washington's troops at Valley Forge were almost destroyed by price controls
a. True
b. False
Indicate whether the statement is true or false
True
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The L in OLI theory stands for loyalty, and this factor makes it more difficult for firms to substitute foreign operations for domestic as they fear a loss of sales due to negative publicity
Indicate whether the statement is true or false
Behavioral economists recommend mechanisms to help people actually do things they say they want to do but often don't. Such mechanisms are often called
A. savings rates. B. charitable donations. C. self-control. D. commitment devices.
If a monopolist engages in perfect price discrimination,
a. the marginal revenue curve becomes steeper b. the demand curve also becomes the marginal revenue curve c. the demand curve is steeper than the marginal revenue curve d. the demand curve is not as steep as the marginal revenue curve e. there is no way to define its marginal revenue
Leakages are
a. negative tax revenues b. government spending on nonessential goods and services c. amounts of income earned, but not spent, by the household sector during a given year d. a sign that an economy's total output is excessive e. sums spent by sectors other than households