If they could reach agreement, two firms in a two firm industry facing the advertising dilemma would agree not to advertise.
Answer the following statement true (T) or false (F)
True
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Using the data in the above table, if the private sector runs a surplus of $250 billion, imports will equal $1,000 billion if
A) government expenditure equals -$750 billion. B) investment equals -$1000 billion. C) government expenditure equals -$1000 billion. D) the government sector runs a deficit of $750 billion.
The short-run elasticity of supply is less than the long-run elasticity of supply
A) because consumers' tastes and preferences change in the long run but not in the short run. B) because producers can adjust the amount of machinery in the long run but not in the short run. C) only for durable goods. D) only for non-durable goods.
An increase in the price of Kellogg's breakfast cereal is likely to shift the demand curve for cereal manufactured by Malt-O-Meal to the right
Indicate whether the statement is true or false
Technology spillovers: a. Can be reduced by way of patents
b. Can lead to clustering of technology firms near one another. c. Are examples of positive externalities. d. All of the above are true.