Refer to Figure 12.1. The concept of crowding in suggests that a government budget surplus would move the economy from point
A. E to point F.
B. A to point C.
C. C to point A.
D. B to point A.
Answer: B
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Refer to Figure 9-4. Under autarky, the producer surplus is area
A) S + V. B) S + T + V + W + X. C) V. D) T + W+ X.
Which of the following is NOT a necessary condition for oligopoly?
A) barriers to entry B) strategic dependence of firms C) differentiated products D) either a small number of firms or market dominance by a small number of firms
Externalities measure
A. Only costs of a market activity borne by a third party. B. Either costs or benefits of a market activity borne by a third party. C. Only benefits of a market activity borne by a third party. D. None of the choices are correct.
Which one of the following is a source of organizational power?
A. Vision setting B. Having an appetite for risk C. Having close friends and allies D. Work experience