In order to increase the capital stock, society must divert ________ that could be otherwise used to increase the current supply of ________.
A. credit; labor
B. money; labor
C. money; consumer goods
D. resources; consumer goods
Answer: D
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In the 1965 to 1973 period, U.S. policymakers ________
A) targeted an unemployment rate that, in hindsight, was likely too low B) pursued an easing of monetary policy designed to increase aggregate demand C) made some mistakes that led to the most sustained inflationary episode in U.S. history D) all of the above E) none of the above
If bundles of goods A and B lie on the same indifference curve, one can assume the individual:
a. prefers bundle A to bundle B. b. prefers bundle B to bundle A. c. enjoys bundle A and B equally. d. bundle A contains the same goods as bundle B.
The opposite of the bandwagon effect is:
A. a network externality, positive or negative. B. a positive network externality. C. the substitution effect. D. the snob effect.
Which of the following statements is(are) FALSE?
I. Trade creation is always bad for countries. II. Trade diversion is always good for countries. III. Regional trade agreements never cause welfare losses. a. I b. II c. III d. I, II, and III