Network externalities create a push toward:
A. perfect competition.
B. government deregulation.
C. foreign competition.
D. natural monopoly.
Answer: D
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All of the following would shift a product's demand curve except a(n): a. increase in the price of the product
b. decrease in consumer income. c. increase in the price of a substitute. d. increase in the price of a complement.
Use the sticky-wage theory of aggregate demand to explain the short-run Phillips curve
Answer the following statement(s) true (T) or false (F)
1. Proponents of an environmentally adjusted measure of national income believe that environmental pollution linked to production should be recorded as a loss in the system of national accounts (SNA). 2. Improvements made to China’s environment in preparation for the Olympic Games in 2008 have been maintained and even enhanced over time. 3. The economic criteria concerned with minimizing resource use to achieve an objective is known as allocative efficiency. 4. Setting an air quality standard is an example of a command and control approach to improving the environment. 5. A tax imposed on emissions is an example of the market approach to pollution control.
According to new growth theory, technological change is driven by
A) random chance. B) government policies. C) foreign firms' attempts to increase their sales in the domestic market. D) firms' attempts to increase their profit.