The fact that U.S. citizens expect to receive retirement benefits through Social Security and Medicare pushes their:
A. supply of loanable funds further right than it would otherwise be.
B. demand for loanable funds further right than it would otherwise be.
C. supply of loanable funds further left than it would otherwise be.
D. demand for loanable funds further left than it would otherwise be.
Answer: C
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In the short-run macro model, cyclical unemployment is caused by insufficient spending
a. True b. False
Consider two goods - one that generates external benefits and another that generates external costs. The actual market outcome would
a. result in a price that is lower than the efficient price for both goods. b. result in a price that is higher than the efficient price for both goods. c. result in a price that is lower than the efficient price for the good with an external benefit and a price that is higher than the efficient price for the good with an external cost. d. result in a price that is higher than the efficient price for the good with an external benefit and a price that is lower than the efficient price for the good with an external cost.
A business with market power may
A. create new markets due to competitive forces. B. sometimes use high profits to research new technologies. C. be less innovative than businesses in perfect competition. D. force employees to work harder and longer.
For an economy with only two goods, skate boards can be added to bicycles to compute the GDP by
A. Dividing dollar values of output by price and adding the result. B. Dividing output by price and adding the resulting dollar values. C. Multiplying output by price and adding the resulting dollar values. D. Multiplying dollar values of output by price and adding the result.