When the Federal Reserve acts to ease money and credit in the economy, then the aggregate:
a. Demand curve will shift to the right
b. Supply curve will shift to the left
c. Supply curve will shift to the right
d. Demand curve will shift to the left
a. Demand curve will shift to the right
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The Arrow impossibility theorem suggests
A) democracies are doomed to fail in the long-run. B) dictatorships are impossible in the long-run. C) there is no universally applicable decision rule in a majority-rule democracy. D) there is no way to make democracy better than a dictatorship.
If Bratty Brad decides to hit Mousey Mike, what would Mousey Mike's best response be
a. Tell b. Not tell c. Run d. Hide
Transferable permits are likely to result in less inefficiency, relative to a pollution tax, when
a. The marginal costs of damages are steep and the marginal costs of pollution reduction are relatively stable b. The marginal costs of damages are steep and the marginal costs of pollution reduction are steep c. The marginal costs of damages are relatively stable and the marginal costs of pollution reduction are relatively stable d. The marginal costs of damages are relatively stable and the marginal costs of pollution reduction are steep e. The marginal costs of damage are elastic and the marginal costs of pollution reduction are also elastic
The market for Product A has many sellers, selling identical products, each earning an economic profit of zero in the long run. The market for Product B has many sellers, selling differentiated products, each earning an economics profit of zero in the long run. Given this information, one can conclude thatÂ
A. The markets for Product A and Product B are perfectly competitive. B. The markets for Product A and Product B are monopolistically competitive. C. The market for Product A is monopolistically competitive and the market for Product B is perfectly competitive. D. The market for Product A is perfectly competitive and the market for Product B is monopolistically competitive.