What characteristic of a competitive market has made the "long run pretty short" in the market for iPhone apps?
A) few firms in the market
B) identical products
C) ease of entry
D) blocked entry
Answer: C
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The practice of selling a product to retailers and requiring the retailers to charge a specific price for the product is called
a. fixed retail pricing. b. resale price maintenance. c. cost plus pricing. d. unfair trade.
Vault cash is:
A. a part of reserves and an asset of commercial banks. B. not reserves but is a liability of the central bank. C. equal to the total amount of reserves and is an asset of the central bank. D. not reserves but is an asset of central banks.
The primary use of development assistance is to
A. encourage economic development through low-interest loans. B. restrict the outflow of foreign direct investment. C. invest in natural resources. D. allow developing countries imitate rather than innovate technologies.
Assume that we want to drive our economy out of recession by generating a $400 billion change in real GDP. The MPC is 0.80. Which of the following policy prescriptions would generate the targeted $400 billion change in income?
A. $120 billion increase in government spending and $50 billion increase in tax revenue. B. $140 billion increase in government spending and $70 billion increase in tax revenue. C. $160 billion increase in government spending and $120 billion increase in tax revenue. D. $220 billion increase in government spending and $100 billion increase in tax revenue.