The idea of an accelerator at work in the economy is associated with the
a. innovation cycle
b. housing cycle
c. external cycle
d. internal cycle
e. investment cycle
D
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Brinley Thomas' (1954) thesis explains
(a) fluctuations in immigration. (b) fluctuations in European domestic investment. (c) fluctuations in European foreign investment. (d) all of the above.
A monopolist is defined as
A) a firm with annual sales over $10 million. B) a large firm, making substantial profits, that is able to make other firms do what it wants. C) a single supplier of a good or service for which there is no close substitute. D) a producer of a good or service that is expensive to produce, requiring large amounts of capital equipment.
ABC Light Bulbs has a monopoly on a new style of LED lighting. Right now, they sell 5 million bulbs at a unit price of $10. If they lower their price to $8, they will sell 7 million units. What is the price effect in this scenario?
a. ABC is unable to influence the price of its products if output exceeds 7 million bulbs. b. ABC earns an additional $18 for every bulb it sells over 5 million. c. ABC loses $10 million in revenue by selling at a lower price to its original customers. d. ABC gains $6 million in revenue by selling more bulbs to new customers.
Which of the following is not an income transfer?
A.) Unemployment benefits B.) Social Security payments C.) Food stamps D.) Welfare