The Tiebout model can be summarized as "voting with the invisible hand."
A. True
B. False
C. Uncertain
B. False
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Patents are a source of:
A) legal market power. B) natural market power. C) regulated market power. D) firm-biased market power.
A large open economy's real interest rate will decrease if
A) the expected future marginal product of domestic capital rises. B) the expected future marginal product of foreign capital rises. C) there is a temporary positive domestic supply shock. D) there is a temporary negative domestic supply shock.
Which one of the following is not a characteristic of a perfectly competitive market? a. Firms advertise in order to distinguish their products and increase market share. b. Firms earn zero economic profit in the long run
c. Competing products are virtually identical. d. Firms are price takers.
Jones lost his job in industry A, but he has skills that can be transferred to industry B (which is currently hiring). Smith lost a job in industry C, but his skills cannot be transferred to industry B or to any other industry. Jones is __________ unemployed and Smith is __________ unemployed
A) structurally; frictionally B) structurally; structurally C) frictionally; frictionally D) frictionally; structurally