The regulation of natural monopolies is common in which of the following industries?
A. Electricity
B. Oil
C. Tobacco
D. Alcohol
A. Electricity
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The price of a coupon bond and the yield to maturity are ________ related; that is, as the yield to maturity ________, the price of the bond ________
A) positively; rises; rises B) negatively; falls; falls C) positively; rises; falls D) negatively; rises; falls
Game theory is:
A. the study of how people behave strategically under different circumstances. B. used by economists to evaluate behavior in a variety of settings. C. a useful tool in predicting strategic behavior. D. All of these statements are true.
The term logrolling describes
a. government spending programs financed with user charges. b. the exchange between legislators of their votes on issues. c. the actions of legislators who are willing to trade their political votes for campaign contributions from special interest groups. d. government spending programs that primarily benefit loggers and other forest workers.
Answer the following statement(s) true (T) or false (F)
1. Someone with a low marginal propensity to consume probably has a low marginal propensity to save. 2. Equilibrium in the aggregate expenditure model requires that aggregate expenditure equals income. 3. According to the aggregate expenditure model, when aggregate expenditure is greater than output, output decreases. 4. Politics can affect aggregate expenditure. 5. Accounting for investment, government purchases, and net exports increases the autonomous portion of aggregate expenditure.