Which of the following describes the behavior of M1 in recent decades?
A) it soared during the recessions of 1990-91, 2001, and 2007-2009
B) it tended to grow more rapidly than M2
C) it was more stable than M2
D) it has not declined since the 1970s
A
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The prisoners' dilemma is similar to the problem faced by firms in an oligopoly in the United States because
A) mutual interdependence exists, and collusion is illegal in the United States, so the firms cannot legally communicate. B) collusion is legal in the United States, and firms can communicate their pricing decisions to each other. C) failure to cooperate leads to better outcomes than cooperation. D) private prisons are run by oligopolies. E) the firms can communicate, but mutual interdependence exists.
Real estate is property, which can be either a tangible or an intangible asset. Which of the following would be considered an intangible asset?
A. Land B. Building C. Mortgage D. Fence
Long-run macroeconomic policy focuses on shifting the:
A. Aggregate supply curve to the left. B. Production possibilities curve outward. C. Aggregate demand curve to the left. D. Money supply curve to the right.
GoodPrice Increase Last YearAmusement park tickets5.0%Bowling balls4.2%Camouflage neckties3.1% Refer to Table 8.1, which gives hypothetical data on price changes for three goods. If the overall rate of inflation in the economy was 4.5%, which of the following statements is true?
A. The real price of all three goods decreased. B. The real price of amusement park tickets fell, and the real price of bowling balls and camouflage neckties rose. C. The real price of all three goods increased. D. The real price of amusement park tickets rose, and the real price of bowling balls and camouflage neckties fell.