Compared to the outcome when the firms are price takers, competitive price-searcher markets will result in
a. a wider variety of products and higher prices.
b. less product variety and higher prices.
c. a wider variety of products and lower prices.
d. less product variety and lower prices.
A
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Suppose real GDP is currently $12.5 trillion and potential real GDP is $13 trillion. If the president and Congress increased government purchases by $500 billion, what would be the result on the economy?
. What will be an ideal response?
Threats to in internal validity lead to
A) perfect multicollinearity B) the inability to transfer data sets into your statistical package C) failures of one or more of the least squares assumptions D) a false generalization to the population of interest
An increase in demand for a good will lead to a larger increase in price if the supply is relatively elastic.
Answer the following statement true (T) or false (F)
Which of the following sets of policies would unambiguously move the economy to full employment?
What will be an ideal response?