Price makers do not have market power
Indicate whether the statement is true or false
False
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Suppose there has been an increase in investment. As a result, real GDP will ________ in the short run, and ________ in the long run
A) decrease; increase to its initial level B) increase; increase further C) increase; decrease to its initial value D) decrease; decrease further
The GATT was
a. formed shortly after World War II b. authorized in the American Constitution c. formed in 1994 d. formed in 1876 e. formed to unify the European continent
The economist assumes that people act in accordance with the equimarginal principle, because the economist assumes that people are
a. altruistic. b. selfish. c. rational. d. price takers.
The risk structure of interest rates says:
A. the interest rates on a variety of bonds will move independently of each other. B. lower rated bonds will have higher yields. C. interest rates only compensate for risk during recessions. D. U.S. Treasury bond yields always change by more than other bonds.