There are apartments in Chicago whose rooftops overlook Wrigley Field where the Chicago Cubs play at home. On game day you can find free riders on the roof enjoying _____________
a. a near public good
b. free property rights
c. a positive externality
d. a pure public good
e. excess utility
C
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An indirect effect of an increase in the price level works through
A) changes in trade balances as domestic goods become more expensive, causing interest rates to move in the opposite direction from the change in the exchange rate. B) interest rates as people save more as the higher prices make their money balances less attractive. C) people substituting out of domestic goods and into foreign goods as exchange rates rise. D) interest rates as people borrow to maintain their money balances, bidding up interest rates and reducing total planned real expenditures.
The formula for an infinite sum is 1 / (1 - b), where b = (1 - reserve ratio)
Indicate whether the statement is true or false
Corporate managers and shareholders do not always have the same goals
Indicate whether the statement is true or false
Which of the following statements is TRUE?
A) The long-run aggregate supply curve is upward sloping. B) The long-run aggregate demand curve is upward sloping. C) The short-run aggregate supply curve is vertical. D) The long-run aggregate supply curve is vertical.