Keynes argued that an economy could be in equilibrium when the economy was
A) operating at maximum potential capacity.
B) operating with some unutilized productive capacity.
C) trying to operate at some output level beyond its potential capacity.
D) operating either at full productive capacity or at less than full capacity.
D
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A patent or copyright is a barrier to entry based on
A) widespread network externalities. B) ownership of a key necessary raw material. C) large economies of scale as output increases. D) government action to protect a producer.
All of the following are considered process innovation EXCEPT
A) neutral technical progress. B) labor saving technical progress. C) organizational innovation. D) nonneutral technical progress.
If there is an increased interest in U.S. goods by Indian consumers, which of the following will happen in the market for Indian rupees?
a. A rightward shift of the supply curve, a depreciation of the rupee, and a larger number of rupees traded b. A rightward shift of the demand curve, a depreciation of the rupee, and a smaller number of rupees traded c. A rightward shift of the demand curve, an appreciation of the rupee, and a larger number of rupees traded d. A leftward shift of the demand curve, a depreciation of the rupee, and a smaller number of rupees traded e. A leftward shift of the supply curve, an appreciation of the rupee, and a smaller number of rupees traded.
When other nations Orient "dump" products on the U.S. market, they
a. sell at prices that do not cover costs of production. b. sell at prices lower than prices charged to their own domestic customers. c. expect the United States to help pay any industrialists' losses. d. All of the above are true.