Scarcity
A) does not exist in the United States.
B) applies only to developing countries.
C) can be eliminated with more efficient production methods.
D) is not a shortage.
Answer: D
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In a duopoly with homogeneous products, the best response of a firm is to charge a lower price than its rival as long as ________
A) the rival's price is above marginal cost B) the rival's price is below marginal cost C) the rival's price is above average cost D) the rival's price is below average cost
Which of the following components of the current account are included in GDP?
A) net exports B) net foreign investment income C) net transfer payments sent to foreigners D) all of the above
The popular theory prior to the Great Depression that the economy will automatically adjust to achieve full employment in the long run is:
a. supply-side economics. b. Keynesian economics. c. classical economics. d. mercantilism
The difference between U.S. financial regulation between the 1930s-to-1980 period and the 1980-to-2010 period is:
a. The earlier period was characterized by relatively loose government regulations and the later one was characterized by stricter government regulations. b.The earlier period was characterized by heavy use of the originate-to-distribute" strategy. c. The earlier period was characterized by recurring, nation-wide speculative housing bubbles. d. The later period was characterized by heavy use of securitization. e. All of the above.