Combating the "greenhouse effect" does not create classic free-rider problems
a. True
b. False
Indicate whether the statement is true or false
False
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When Ford increases the production of cars in Romania, which of the following occurs?
A) GDP in the United States rises. B) GNP in the United States rises. C) GNP in Romania rises. D) Both A and C occur.
Consumers value the product-specific services for a new smartphone at $20 and the marginal cost to the retailers for providing the product-specific services is $20. If the retailers provide the product-specific services, which of the following is true?
A) The shift in the market demand will equal the shift in the market supply. B) The shift in the market demand will be exactly double the shift in the market supply. C) The shift in the market supply will exceed the shift in the market demand. D) The shift in the market demand will exceed the shift in the market supply.
The number of firms in a monopolistically competitive industry means that
A) firms will collude. B) existing firms in the industry will make sure new firms do not enter. C) firms will not cooperate to set a pure monopoly price. D) firms will try to set a common price.
A recessionary gap exists when the equilibrium level of GDP exceeds potential GDP
a. True b. False Indicate whether the statement is true or false