The term "fine-tuning the economy" implies:
a. making government economic policy more "people oriented"
b. using government policies to adjust the economy and promote economic stability.
c. solving microeconomic problems such as externalities and losing sight of the big picture.
d. placing fewer regulations on the private sector, thereby eliminating the need for government intervention.
e. designing policies based exclusively on leading economic indicators.
b
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Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000 - 200P, where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. The Cournot model describes the competition in this market. How much does Kate produce in the Nash equilibrium?
A. 2,000 B. 1,333.33 C. 800 D. 4,000
Which of the following is NOT a characteristic of a corporation?
A) limited liability for shareholders B) double taxation C) separation of ownership problems D) limited ability to raise capital funds
Use the information in the table above to calculate the value of net exports
A) $10 million B) $0 C) -$10 million D) $30 million
Refer to Figure 10.9. Other things equal, a positive demand shock is best represented as a change in equilibrium from
A) point A to point B. B) point A to point D. C) point C to point B. D) point C to point D.