Which of the following is NOT a restriction the government imposes to keep potential entrants out of a market?
A) subsidizing imported goods
B) licensing of exclusive ownership of such a vital resources
C) certificate of convenience
D) compliance with government safety regulations
Answer: A
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
Assume that beer is an inferior good. If the price of beer falls, then the substitution effect results in the person buying ________ of the good and the income effect results in the person buying ________ of the good
A) more, more B) more, less C) less, more D) less, less
If the exchange rate is 1000 yen = $20, you would get ____ in American money for 1 yen.
Fill in the blank(s) with the appropriate word(s).
A corporate bond is a ________ issued by a corporation when it borrows money.
A. certificate of deposit B. private stock C. derivative security D. promissory note