The essence of an oligopolistic market is that there are only a few sellers
a. True
b. False
Indicate whether the statement is true or false
True
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The most recent recession in the United States began in December 2007
a. True b. False
Human wealth is a function (i.e., affected by changes in) of which of the following variables?
A) future expected income B) future expected taxes C) current interest rates D) all of the above E) none of the above
Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
In the graph of the Solow growth model, at any point to the right of the steady-state intersection we have national saving per person ________ than steady-state investment per person, causing (K/N) to ________
A) greater, increase B) greater, decrease C) less, increase D) less, decrease