A persistently declining price level resulting from economic growth and unchanged aggregate demand is called
A) demand-side deflation.
B) supply-side deflation.
C) ozian deflation.
D) secular deflation.
Answer is D) secular deflation.
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Which of the following represents the true economic cost of production when firms produce goods that generate negative externalities?
A) the private cost of production B) the external cost of production C) the social cost of production D) the explicit cost of production
Collusion is easier to achieve and maintain in oligopoly when
a. there are many firms in the industry b. the firms' products are homogeneous c. the firms' cost structures are very different d. there are very weak barriers to entry e. the industry is located in the United States
In an uncertain world, private investors
a. always make decisions that lead to economic profit. b. never make decisions that generate economic losses. c. sometimes make decisions that lead to economic losses. d. rarely invest in human capital.
Compare the equilibrium output in a duopoly to the monopoly output