The implementation lag is
A) the time it takes for policy makers to obtain data indicating what is happening in the economy.
B) the time it takes for policy makers to be sure of what the data are signaling about the future course of the economy.
C) the time it takes to pass legislation to implement a particular policy.
D) the time it takes for policy makers to change policy instruments once they have decided on the new policy.
E) the time it takes for the policy actually to have an impact on the economy.
D
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Because economic profits are eliminated in the long run in monopolistic competition, to earn an economic profit firms continuously
A) shut down. B) exit the industry. C) innovate and develop new products. D) declare bankruptcy. E) decrease their costs by decreasing their selling costs.
A firm sells 150 units of output at a price of $8 each. The economic cost of producing the 150 units of output is $1,000 . Calculate the firm's level of economic profit
What will be an ideal response?
The dollar value of stocks and bonds traded in a given year:
a. is included in the calculation of GDP b. have no influence on GDP. c. is included in the calculation of private investment. d. is not included in GDP, but the broker commissions involved are included in GDP.
As capital deepening occurs, there will be:
A. economic growth and decreases in depreciation. B. increased real wages and economic growth. C. decreased real wages and decreases in saving. D. decreases in depreciation and decreases in saving.