Platform businesses are firms that:
A. produce platforms for producing goods.
B. facilitate interaction among people.
C. initiate international trade.
D. focus on freedom of speech.
Answer: B
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An increase in capital outflows from the United States will
A) decrease the balance on the capital account. B) decrease the balance on the financial account. C) increase the balance on the financial account. D) increase the balance on the current account.
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.
The number of people willing to buy tickets to the Super Bowl is invariably greater than the number of tickets (and seats) available. This is evidence that the price of the tickets is
What will be an ideal response?
The law of increasing opportunity costs causes the production possibilities curve to:
A. be a straight line. B. slope upwards. C. have a bowed-out shape. D. shift inward.