Which of the following factors has been the dominant source of economic growth in the U.S. (except in 1973-1995)?
A. Increase in population
B. Increase in labor productivity
C. Increase in hours per worker
D. Increase in labor force
B. Increase in labor productivity
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If expectations of the future inflation rate are formed solely on the basis of a weighted average of past inflation rates, then economists would say that expectation formation is
A) irrational. B) rational. C) adaptive. D) reasonable.
All of the following are benefits of securitization EXCEPT
A) risk sharing. B) reduced interest rates that borrowers pay on loans. C) increased liquidity. D) fewer adverse selection problems.
All of the following are true for both competition and monopolistic competition in the long run, except one of them. Which is it?
a. P = MC b. P = AC c. Economic profits become zero in the long-run d. The barriers to entry and exit are relatively easy e. None of the above is an exception
Briefly describe the business practice of tying