A monopoly that is maximizing profits operates in the ________ portion of the demand curve
A) unitary elastic
B) elastic
C) inelastic
D) horizontal
B
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The danger of using the national defense argument to protect domestic industries necessary to wage war is that
a. it has no validity on non-economic grounds. b. it is unrelated to the United States' ability to wage war. c. other nations will retaliate with tariffs against U.S. producers of war material. d. industries with only the most peripheral relationship to defense are likely to invoke this argument on their behalf.
The real rate of interest is the
a. money rate of interest plus the inflationary premium. b. money rate of interest minus the inflationary premium. c. yield one can expect to receive on loanable funds without taking significant risk. d. risk component associated with the ownership of real assets.
People anticipate inflation will be 3 percent during the next several years. If this is true, when the real interest rate is 4 percent, the money interest rate will be
a. 1 percent. b. 3 percent. c. 4 percent. d. 7 percent.
Which of the following is incorrect? The ill effects of the Great Recession were:
a. Mainly restricted to large financial institutions. b. Mainly restricted to credit markets and had little effect on the real goods market. c. Mainly restricted to the U.S. stock market. d. Felt nationwide and had strong effects internationally. e. All of the above are incorrect.