The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending.
B. recessionary gaps.
C. expansionary gaps.
D. unemployment.
Answer: B
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Relative to the United States, the European Union antitrust law focuses more on all of the following except which one?
A) ethics B) furthering the social interest C) the leveling of the competitive playing field D) fairness
National income accounting is
A. used only to determine the government deficit. B. the system that measures the value of the Dow Jones average. C. how the amount of unemployment in the system is measured. D. an approach to measuring an economy's aggregate performance.
Which of the following would cause a decrease in the equilibrium price and an increase in the equilibrium quantity of salmon?
A) a decrease in demand and an increase in supply B) an increase in supply C) an increase in supply and an increase in demand greater than the increase in supply D) a decrease in demand and a decrease in supply
Comment on the following statement: "For a monopolist, marginal revenue is always equal to price."
What will be an ideal response?