In the short run the firm has at least one fixed input
a. True
b. False
Indicate whether the statement is true or false
True
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In the presence of compensating wage differentials, explain why the consumption possibility frontier is not a good approximation of the utility possibility frontier.
What will be an ideal response?
In the absence of a Ricardo-Barro effect, a government budget deficit ________ the demand for loanable funds, ________ the real interest rate, and ________ investment
A) increases; increases; crowds out B) increases; decreases; increases C) decreases; increases; increases D) decreases; increases; crowds out
When a lack of information exists for parties to a deal:
A. it is always worth getting more information before making a decision. B. an exchange will never happen. C. the cost of acquiring information sometimes is prohibitive and not worth it. D. the exchange will always happen anyway, with little chance of maximizing surplus.
If the price of a product decreases, we would expect
What will be an ideal response?