Endogenous growth theory tries to explain why
A) the growth rate of technological change varies across countries.
B) capital is not subject to diminishing marginal returns.
C) total factor productivity is the only determinant of labor productivity.
D) balanced growth occurs in all economies.
A
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Which of the following is the best example of a precommitment used to overcome time inconsistency
A. Finding a running partner and setting a regular schedule of when you will run together. B. Deciding to save a percentage of each month's paycheck. C. Signing up for a free trial membership at the local gym. D. Buying an alarm clock.
Which of the following is directly illegal under the Sherman Act?
A. Price discrimination. B. Tying contracts. C. Price-fixing. D. Interlocking directorates.
Refer to the information provided in Figure 16.4 below to answer the question(s) that follow.Los Angeles International Airport (LAX) is located next to Playa Del Rey. The noise from air traffic negatively affects individuals living in Playa Del Rey, however, this cost is not considered by airlines or air travelers. The airlines feel they have a right to use the airspace while the individuals living in Playa Del Rey feel they have the right to quiet. The following diagram depicts the marginal costs and marginal benefits associated with air travel.
Figure 16.4Refer to Figure 16.4. If the government assigns property rights to ________ and no negotiations
occur between the parties, the resulting level of air travel is 120 units. A. both the airlines and the residents of Playa Del Rey in a 50-50 split B. the residents of Playa Del Rey C. the airlines D. indeterminate from the given information.
What is the effect on the money supply when a commercial bank sells government securities to the public?
What will be an ideal response?