Checkable deposits are included in
A. M1 but not in M2.
B. M2 but not in M1.
C. both M1 and M2.
D. neither M1 nor M2.
Answer: C
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Refer to Figure 15-15. Why won't regulators require that Erickson Power produce the economically efficient output level?
A) because at the economically efficient output level, the marginal cost of producing the last unit sold exceeds the consumers' marginal value for that last unit B) because Erickson Power will earn zero profit C) because there is insufficient demand at that output level D) because Erickson Power will sustain persistent losses and will not continue in business in the long run
Suppose that Congress allocates $5 billion to an "energy-efficient appliance rebate" program. It also raises taxes by $5 billion to keep the deficit from growing. If the marginal propensity to consume is 0.8, what is the effect on equilibrium GD
A) GDP does not change. B) GDP increases by $5 billion. C) GDP increases by $25 billion. D) GDP increases by $4 billion.
Which of the following can lead to the existence of an oligopoly within a particular market?
a. A combination of economies of scale and market demand that creates a barrier to entry b. The government granting a patent for an invention to a single firm c. Lack of room in the market for a firm to raise prices by a single penny d. The market requiring more products than all firms in the market can produce together
Business cycles are:
A. movements in stock prices. B. the transfer of executives between firms. C. used to describe fluctuations in GDP. D. a description of the time required to bring a new product to market.