According to the ____ view, a nation's wealth consists of the amount of gold or other monies at its command
a. Keynesian
b. free trade
c. mercantilist
d. monetarist
c
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Predatory pricing occurs when a firm sells
A) above cost to any customers who have no good alternative. B) above cost to low-income customers who have no good alternative. C) at whatever prices the market will bear. D) below cost in order to eliminate competitors. E) only to customers who agree to rebate a portion of the price.
In the Solow growth model, given the values of A, s, n, and d, the economy has an equilibrium growth rate of real GDP per capita, (Y/N), equal to
A) n. B) n - d. C) s - n. D) (s - d)/n. E) zero.
Job is a smoker. He has a utility function for cigarettes smoked in bars (q1 ) and a composite good (q2 ) given by U(q1,q2 ) = 10q1.5 + q2 Job's income is $100 and faces prices p1 = 5 and p2 = 1. The government is planning to ban smoking in bars
Compute the compensating variation.
When the spending of consumers, businesses, government, and foreigners (net exports) is less than the aggregate output level of the economy, the Keynesian model result is that:
a. output will rise. b. output will fall. c. prices will rise. d. inventories will tend to decline.