Protecting property rights:
A. by governments will likely increase productivity.
B. is essential to economic growth.
C. encourages people to invest in capital.
D. All of these are true.
Answer: D
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U.S. producer surplus ________ when the United States imports a good and U.S. producer surplus ________ when the United States exports a good
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
What was the name of the plan, enacted in 2011, in which the Fed bought $400 billion worth of long-term securities while selling $400 billion worth of short-term securities?
A) Operation Go Long B) Operation Twist C) QE2 D) QE3
When total utility is falling
A. marginal utility is at a maximum. B. marginal utility is at zero. C. marginal utility has decreased, but is now increasing. D. marginal utility is negative.
Suppose the principal offers to share a percentage of the profit with the agent. Such a contract
A) will yield the same income for the agent as a hire contract would. B) is incentive compatible. C) creates a production inefficiency. D) would not be acceptable to any agent.