Which diagram in Figure 9.4 shows what is likely to happen to investment as a new telecommunications technology suddenly is discovered that greatly facilitates the use of computers, cable TV, and other information services?
A. A.
B. B.
C. C.
D. D.
Answer: D
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Economic rents are typically counted as:
A) accounting costs but not economic costs. B) accounting and economic costs. C) economic costs but not accounting costs. D) none of the above
The graph depicts a monopolistically competitive firm.
Refer to the above graph. This monopolistically competitive firm is:
A. making a loss in the long run. B. making economic profit in the short run C. making economic profit in the long run. D. making a loss in the short run.
Discuss how the Fed raising the federal funds rate ripples through the different sectors of the economy
What will be an ideal response?
Economists assume that individuals
A) prefer to live in a society that values fairness above all else. B) will never take actions to help others. C) are rational and respond to incentives. D) behave in unpredictable ways.