A free rider
A) benefits from a positive externality without paying for it.
B) has a horizontal demand curve.
C) places no value on the good provided.
D) All of the above.
A
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An increase in housing starts, typically due to __________ interest rates, is often thought to precede __________
A) rising; an expansion B) rising; a recession C) falling; an expansion D) falling; a recession
Answer the following statements true (T) or false (F)
1. Changes in the level of inventories are an internal force in the economy’s cyclical movements. 2. Cost changes generally lag behind price changes during the business cycle. 3. A recession occurs whenever there’s a decline in real GDP for two or more successive quarters. 4. Involuntary inventory accumulation may occur during the contracting phase of the business cycle. 5. Psychological forces have no effect on business fluctuations.
Suppose the manager of a restaurant notices that when she has too many waiters on the floor for a shift that the waiters get in each other's way and fewer dinners are served. This is an example of
A) diminishing marginal product. B) diminishing marginal utility. C) diminishing marginal workforce. D) diminishing marginal inputs.
Explain whether a monopoly that maximizes profit will also be maximizing revenue and production
What will be an ideal response?