Which of the following is considered a problem with active policy?
a. Estimating the potential output
b. Forecasting aggregate demand
c. Tools must already be in place to achieve results relatively quickly.
d. All of the above are problems with the implementation of active policy
d
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Compare and contrast the potential for a perfectly competitive firm and a monopolistically competitive firm to earn positive economic profits in the short run versus the long run. Explain your reasoning
What will be an ideal response?
A metal-stamping factory moves next to a day care center. Noise from the factory makes it impossible for the kids to nap. It would cost the factory $5 million to move; it would cost $1 million for the day care center to move. Sound insulation for the factory costs $1 million; insulation for the day care center costs $200,000 . The court determines that the day care center has the property right
What would be the optimal solution to this problem? a. The factory should install sound insulation because that is cheaper than moving. b. The factory should pay the day care center to move. c. The factory should buy insulation for the day care center. d. The day care center should buy its own insulation. e. The day care center should move.
Which of the following statements is true regarding protocols in various types of auctions?
a. An English auction requires bidders to begin with the highest price. b. A Dutch auction starts with the lowest price any bidder is willing to pay, which is displayed in a one-handed clock. c. In a Dutch auction, the first buyer to bid gets the item at the price shown in the one-handed clock. d. In a second-price auction, the second-highest bidder gets the item.
High unemployment is socially wasteful. Why?