The behavior of investment and real GDP in the United States after the 1990s
A) is not consistent with the two-period model with production.
B) is consistent with the effects of an increase in the government deficit in the two-period model with production.
C) is consistent with the effects of an increase in optimism about future total factor productivity in the two-period model with production.
D) is consistent with the effects of a decrease in the government deficit in the two-period model with production.
C
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The most important function of the Fed is to
A) provide a system for collecting and clearing checks. B) regulate the money supply. C) collect taxes. D) support the federal government's deficit spending by buying government securities.
Technological change allows perfectly competitive firms to ________ and leads to ________
A) lower their costs; lower prices for consumers B) raise their prices; higher prices for consumers C) lower their costs; higher prices so the firms can earn economic profits in the long run D) raise their costs; higher prices and maximum profits in the long run E) lower their costs; deadweight loss
The Bay Area in California is home to the Oakland Athletics and the San Francisco Giants. New York City is home to the Mets and Yankees. Most other cities only have one baseball team, if any at all. What is the best explanation for this phenomenon?
a. Most baseball fans, who are the demanders for baseball games, tend to live in New York and San Francisco b. Baseball team owners live in large cities, such as New York and San Francisco. c. In most baseball cities—excluding New York, San Francisco, etc.—baseball teams are natural monopolies. d. Only these four teams face downward-sloping demand curves. e. Only these four teams have declining average total costs.
The form of contracting used throughout much of Asia:
a. relational contracting b. civil law c. criminalizing civil offenses d. common law e. all of the above