An increase in the nonmonetary cost of purchasing a good
What will be an ideal response?
reduces the quantity of the good demanded.
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If the budget deficit was eliminated, the federal government would have more money than it could spend.
Answer the following statement true (T) or false (F)
Refer to Figure 14-2. If the government delays Gigacom's entry and Xenophone moves first, is a threat by Gigacom that it will provide DSL service if Xenophone provides cable service a credible threat?
A) No, because Gigacom will lose $4.5 million in profits if it carries out its threat. B) Yes, Xenophone stands to lose $3 million in profit. C) Yes, because Gigacom's DSL service will drive Xenophone out of business. D) No, because as a second mover, it has no choice but to abide by the choices of the first mover.
If country A produces S at a lower relative price than country B, A is said to have a comparative advantage in S
Indicate whether the statement is true or false
A discouraged worker is someone who: a. has a job, but wants to get a different one
b. is unemployed and looking for work. c. quits a job and is unable to collect unemployment compensation. d. gives up looking for work, and is no longer counted as unemployed.