Which component(s) of U.S. real GDP decreased in size relative to total U.S. real GDP from 1950 to 2000?
A. Only services.
B. Only agriculture.
C. Agriculture and manufacturing.
D. Only manufacturing.
Answer: C
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In the absence of the negative externality from each individual's contribution to road congestion, roads would not be congested (aside from congestion caused by accidents).
Answer the following statement true (T) or false (F)
Suppose the equilibrium interest rate in the money market is 5 percent and the current interest rate is 7 percent. As a result
A) the interest rate rises. B) real GDP increases. C) the demand for money curve shifts rightward. D) people buy bonds and the interest rate falls.
What is one way firms can enforce tie-in sales?
A) One of the goods has no close substitutes. B) contractual arrangements C) information asymmetry D) Any of the above.
If both supply and demand decrease and the shift in supply dominates, which of the following happens? a. The equilibrium quantity increases. b. The equilibrium price and the equilibrium quantity decrease. c. The equilibrium price decreases and equilibrium quantity increases. d. The equilibrium quantity increases and the equilibrium price change is indeterminate
e. The equilibrium price increases and the equilibrium quantity decreases.