Non-activists believe that postwar instability is primarily the result of
A) erratic growth of private investment.
B) uneven changes in real government expenditures.
C) uneven changes in private consumption of durables.
D) A and C are both correct.
B
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Aluminum competes with copper in the market for power transmission lines. This illustrates:
A. mutual interdependence. B. differentiated oligopoly. C. interindustry competition. D. homogeneous oligopoly.
If all monopolistically competitive firms in the industry have profit circumstances similar to the firm shown:
A. new firms will enter the industry.
B. some firms will exit the industry.
C. all firms will exit the industry.
D. no firms will exit the industry.
Ellis, a staunch environmentalist, is hired right of graduate school by the Environmental Protection Agency. He is ecstatic about having the opportunity to promote what he believes to be the public interest
Within a few years he gets promoted to manager of his bureau. Shortly after his promotion he successfully argues for a 30 percent increase in his department's budget. How might Ellis benefit personally from an increased budget? Now suppose that it was known to be true that the best thing for the environment was for a large portion of Ellis' budget to be shifted to another department. Why might Ellis fight this change? Why might he not?
In the short run, when a firm stops producing it:
A. must be that ATC is lower than market price. B. can avoid earning profits less than zero. C. avoids paying variable costs. D. avoids paying fixed costs.