Marginal analysis involves looking at the extra costs involved in a decision
a. True
b. False
Indicate whether the statement is true or false
True
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David Myers, former controller for WorldCom, pleaded guilty to falsely reporting costs for WorldCom that were ________ than they actually were, resulting in reported accounting profits for WorldCom that were ________ than their actual level
A) higher; higher B) higher; lower C) lower; lower D) lower; higher
Collusion is most likely to occur in those oligopolies in which firms have vastly different cost structures
a. True b. False
If the Fed was to use all of its three most common tools to increase the money supply, it would:
a. buy bonds, reduce the discount rate, and reduce reserve requirements. b. sell bonds, reduce the discount rate, and reduce reserve requirements. c. sell bonds, reduce the discount rate, and increase reserve requirements. d. sell bonds, increase the discount rate, and increase reserve requirements.
The dawning of the computer age in the latter part of the 20th century created a new and massive growth spurt in the United States that illustrates what some economists describe as the
a. real growth theory b. accelerator phenomenon c. start of an innovation cycle d. interaction of the multiplier and accelerator e. Adam Smith economic growth theory