Refer to Common Property II. If the common property is privately owned, the amount of the good supplied equals
The following questions refer to the accompanying diagram, which shows the benefits and costs associated with the use of a common property.
a. QO
b. QC
c. zero.
d. none of the above.
a. QO
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A decrease in autonomous planned investment spending, other things equal, shifts the ________ curve to the ________
A) IS; right B) IS; left C) LM; left D) LM; right
In the long run, a monopolistic competitor
A) sets MR = MC. B) produces where P = AC. C) sets P > MC. D) All of the above.
The total revenue curve that corresponds to a downward-sloping linear demand curve
a. slopes downward b. slopes upward c. is a horizontal line d. first rises, then falls e. first falls, then rises
Which of the following attributes of the recession of 2008-2009 is most supportive of the Keynesian view that the crowding-out effect will be minimal during a severe recession?
a. the immediate increase in output and employment generated by the budget deficits of 2008-2009 b. the decline in the general level of prices during 2009 c. short-term interest rates falling to near zero, despite growing budget deficits during 2008-2009 d. short-term interest rates falling to near zero, as the budget deficit declined during 2008-2009