Which of the following is not a type of "lock-in" that acts as a barrier to entry into a particular market?
A) Pricing at or below the average cost of production.
B) Purchases of durable goods.
C) Loyalty programs.
D) Specialized suppliers.
A
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Changes in the growth rate of potential output and deviations of actual output from potential output are two logical explanations for:
A. short-term economic fluctuations. B. increasing wage inequality. C. skill-biased technological change. D. the decline in the natural rate of unemployment.
What will be the effect of a tax cut on consumption if consumption offers diminishing returns?
What will be an ideal response?
The various ways that vertical relationships can evade regulation include
a. tying the sale of a regulated good to a customer's choice of an unregulated good b. unbundling regulated and unregulated goods c. excluding sellers of competing unregulated goods d. insuring tax rates are uniform across jurisdictions
Which of the following is most important for the achievement of long-term prosperity and strong economic growth?
a. expansionary monetary policy b. expansionary fiscal policy c. price stability d. a balanced federal budget