If a $6 billion economy is growing at a real rate of 5 percent a year and there is no inflation, what must the government do to maintain a constant debt-to-GDP ratio?
A. Run a deficit of $600 million
B. Run a deficit of $300 million
C. Run a surplus of $300 million
D. Balance the budget
Answer: B
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A good is nonrival if:
A. there is no way to prevent a person from consuming or using it. B. more than one person can consume it at the same time without affecting its value to others. C. consumption of it involves perfect rivalry. D. consumption is completely excludable.
Suppose a trademark's owner has successfully proven in court that an infringer has illegally infringed on the trademark. If the infringer has earned $9 million in profit as a result of illegally infringing on the trademark and the trademark's owner has suffered $2 million in damages, the trademark's owner will be awarded ________.
A) $11 million B) $9 million C) $7 million D) $2 million
Monopolistic competition differs from perfect competition only with regard to the number of firms participating in the market
a. True b. False Indicate whether the statement is true or false
You have noticed that there is a persistent shortage of teachers in an inner-city school district in your state. Based on this observation, you suspect that:
A. the demand for teachers in the inner-city school district is too low. B. the wage for teachers in that district is higher than the wage in other districts. C. there is an excess supply of teachers in other districts. D. the wage for teachers in that district is lower than the equilibrium wage.