In many countries, the system of titling is:
A. weak, slowing economic development.
B. weak, allowing more and faster investment.
C. strong, slowing the amount of property transfer.
D. strong, slowing economic growth.
Answer: A
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The utilities commission in a city is currently examining pay telephone service in the city. The commission has been asked to evaluate a proposal by a city council member to place a $0.10 price ceiling on local pay phone service
The staff economist at the utilities commission estimates the demand and supply curves for pay telephone service as follows: QD = 1600 - 2400P QS = 200 + 3200P, where P = price of a pay telephone call, and Q = number of pay telephone calls per month. a. Determine the equilibrium price and quantity that will prevail without the price ceiling. b. Analyze the quantity that will be available with the price ceiling (in the long-run). c. The city council realizes that the telephone company could curtail pay phone service in response to the ceiling. To prevent this, the council plans to impose a requirement that the telephone company must maintain the current number of pay phones. In light of this additional restriction, what will be the likely impact of the price ceiling?
The total amount of outstanding IOUs a nation is obligated to repay other nations and international organizations is called
a. current account b. balance of payments c. international trade d. international debt e. capital account
Natural monopolies often arise in industries where the marginal cost of adding an additional customer is high
a. True b. False Indicate whether the statement is true or false
Refer to the graph above. If aggregate supply shifts from AS 1 to AS 2, then the price level will:
Increase and real domestic output will increase Decrease and real domestic output will increase Increase and real domestic output will decrease Decrease and real domestic output will decrease