An economist observes that a monopolist does not take full advantage of its market power. She concludes that there must be some rational reason for this behavior that she has not yet discovered. This economist is most likely to be a(n):
A. behavioral economist.
B. traditional economist.
C. irrational economist.
D. engineering economist.
Answer: B
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A socially optimal price:
A) maximizes consumer surplus and minimizes producer surplus. B) maximizes producer surplus and minimizes consumer surplus. C) maximizes total surplus. D) maximizes deadweight loss.
During this year a country reports imports of $1,000 billion, exports of $1,100 billion, foreign investment in the country of $900 billion, investment abroad of $1,200 billion, net interest and net transfers of zero
What is the country's current account balance?
While the discount rate is "established" by the regional Federal Reserve Banks, in truth, the rate is determined by
A) Congress. B) the president of the United States. C) the Senate. D) the Board of Governors.
North's (1955) theory of economic location is that of "balanced growth"—many industries in each region must advance at about the same time in order for economic growth to occur
Indicate whether the statement is true or false