GDP is a good measure of economic well-being for all purposes
a. True
b. False
Indicate whether the statement is true or false
False
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After a corporate merger, Rebecca Jalamid became the CEO of a monopoly firm. She was surprised to learn that one benefit of being a monopoly was that her company
a. could charge as high a price as desired b. was in a good position to capture the fruits of any innovation c. received increased scrutiny from government regulators d. started to attract potential competitors motivated to get a share of the economic profits of Rebecca's company e. contributed to the deadweight loss in the economy
Suppose Jim and Tom can both produce two goods: baseball bats and hockey sticks. Which of the following is not possible?
a. Jim has an absolute advantage in the production of baseball bats and in the production of hockey sticks. b. Jim has an absolute advantage in the production of baseball bats and a comparative advantage in the production of hockey sticks. c. Jim has an absolute advantage in the production of hockey sticks and a comparative advantage in the production of baseball bats. d. Jim has a comparative advantage in the production of baseball bats and in the production of hockey sticks.
The reason that Blu-ray movies cost more money immediately after they are released than they do six months later is due to price discrimination.
Answer the following statement true (T) or false (F)
Borrowing to finance the increases in government expenditures
A. reduces growth in the nation's private capital stock. B. reduces current private investment expenditures. C. increases interest rates. D. all of these.