Schumpeter and Galbraith believed that concentrated industries had lower rates of technological advances than less concentrated industries.
Answer the following statement true (T) or false (F)
False
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If the exchange rate rises, the quantity of dollars supplied
A) decreases, and there is movement down along the supply curve. B) increases, and there is movement up along the supply curve of dollars. C) increases with movement down along the supply curve. D) does not change. E) increases, and there is movement down along the supply curve.
Which of the following is an example of screening?
a. A lender checks a loan applicants credit history. b. When an employee purchases group life insurance without taking a physical exam, she knows more about her health than does the insurance company. c. When someone is considering buying a used car from a dealership, the seller knows the repair history of the car but the potential buyer does not. d. All of the above are correct.
People often complain about price gouging after a disaster such as a hurricane. Suppose the government successfully prevented price increases due to the disaster. We would expect
A) reconstruction to take longer because the quantity supplied of new materials would increase more slowly. B) reconstruction to take less time because the demand for materials would increase faster. C) reconstruction never to occur. D) reconstruction to take less time because the government could rebuild more quickly when people are not in the way.
The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.