Which of the following would most likely cause the movement from S 1 to S 2 ?
a. A much higher percentage of high school graduates seek jobs rather than go to
college.
b. There is an increasing trend among people in their fifties to retire early.
c. A well-publicized medical study motivates a large number of people to reduce their
work hours.
d. A country uses the profits from its nationalized oil industry to give an income subsidy
to all citizens.
a. A much higher percentage of high school graduates seek jobs rather than go to
college.
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If the required reserve ratio is increased from .1 to .2, the demand deposit expansion multiplier
A) increases from 10 to 5. B) increases from 4 to 4.5. C) decreases from 5 to 2.5. D) decreases from 10 to 5.
If two goods are substitutes, an increase in the price of one will cause the demand for the other to decrease
Indicate whether the statement is true or false
Which of the following statements best describes the role of competitive firms within an economy?
a. Smaller economies often have fewer competitive firms making goods within their economy, and thus firms have less pressure from other firms to provide the goods and prices that consumers want. b. Smaller economies often have fewer competitive firms making goods within their economy, and thus firms have more pressure from other firms to provide the goods and prices that consumers want. c. Larger economies often have fewer competitive firms making goods within their economy, and thus firms have less pressure from other firms to provide the goods and prices that consumers want. d. Larger economies often have fewer competitive firms making goods within their economy, and thus firms have more pressure from other firms to provide the goods and prices that consumers want.
Since its beginning, the cable television industry has been viewed as a natural monopoly. Typically, cities would grant individual firms local monopolies and then regulate them. Is this a valid approach from an economic perspective? What do you expect the future of the television-viewing market to hold?