The infant industry argument is valid if the present value of the stream of national benefits is less than the present value of the stream of national costs.
Answer the following statement true (T) or false (F)
False
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An open market operation occurs when ________ buys or sells securities ________
A) the Federal Reserve System; from or to the federal government B) the Federal Reserve System; in the open market C) a commercial bank; from or to the federal government D) a commercial bank; from or to the public
Prime Pharmaceuticals has developed a new asthma medicine, for it has a patent. An inhaler can be produced at a constant marginal cost of $2/inhaler
The demand curve, marginal revenue curve, and marginal cost curve for this new asthma inhaler are in the figure above. With its patent giving it a monopoly for its new inhaler, if it is a single-price monopoly, Prime Pharmaceuticals will produce ________ inhalers and set a price of ________ for each inhaler. A) 16 million; $2 B) 10 million; $5 C) 8 million; $6 D) 8 million; $2
Consider Figure 8.9. If Becky's payoff in the top rectangle were 300 instead of 90, the outcome of the game would be that:
A. both choose a high price. B. both choose a low price. C. Becky chooses a high price and David chooses a low price. D. David chooses a high price and Becky chooses a low price.
Suppose a firm purchases new equipment to replace worn-out equipment at its factory. This purchase of new equipment is considered
A. inventory investment. B. durable consumption goods. C. gross private domestic investment. D. none of these.