In a market economy, the main market signal to competitive suppliers is
a. the number of consumers
b. consumers' income
c. the rate of inflation
d. the price of the product
e. the unemployment rate
D
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What is a "structural" relationship?
A) a relationship that depends on the basic behavior of consumers and firms and remains unchanged over long periods B) any relationship that cannot be anticipated C) a relationship that depends on the size of firm investments in capital such as buildings and other structures D) a relationship between any two variables that is temporary
In the game in Scenario 13.17, who moves first?
A) Potential Entrant B) Incumbent Monopoly C) It's a sequential game; firms alternate moving first. D) Both players move simultaneously. E) Who moves first is decided by the equilibrium.
One of the factors causing the shrinking gap between rich and poor countries is
a. learning by poor countries. b. increasing resource discoveries. c. increasing populations in poor countries. d. transfers of income from rich countries.
When deciding how much to save, people care most about
a. after-tax nominal interest rates. b. after-tax real interest rates. c. before-tax real interest rates. d. before-tax nominal interest rates.