One reason it took so long to have a central bank in the United States is that:
A. state currencies worked fine.
B. it wasn't needed.
C. states feared centralization of power.
D. all of the answer options are correct.
Answer: C
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
Which of the following is true about the game in Scenario 13.2?
A) ABC's dominant strategy is to offer a rebate. B) ABC's dominant strategy is not offer a rebate. C) XYZ's dominant strategy is to offer a rebate. D) XYZ's dominant strategy is not offer a rebate. E) Both ABC and XYZ offer a rebate as a dominant strategy.
The smaller U.S. mainframe computer and peripheral equipment manufacturers of the 1960s (the "Bunch") were perfect competitors, since they produced homogenous products and had little control over the market price
Indicate whether the statement is true or false
A monopoly can be losing money in the ____________, but not in the ____________.
A. short run; short run B. long run; long run C. long run; short run D. short run; long run