Critics argue that U.S. industrial policy:
a. currently focuses only on developing the airlines industry
b. discourages spending on basic research in universities.
c. should shift from a military to a civilian focus.
d. gives foreign industries an advantage over domestic producers.
e. provides too much protection to domestic industries.
c
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Figure 4.5 illustrates a set of supply and demand curves for hamburgers. A decrease in supply and a decrease in demand are represented by a movement from
A) point b to point d. B) point c to point a. C) point a to point b. D) point d to point a.
Which of the following statements is true of a monopolist?
a. The firm charges the highest possible price. b. The firm always earns a profit. c. The firm might earn a profit in the long run. d. The firm generates a larger consumer surplus than a perfectly competitive firm. e. The firm is more production efficient than a perfectly competitive firm.
Measured in dollar terms, the two largest U.S. antipoverty programs are
a. cash transfers and medical care b. cash transfers and food assistance c. food and housing assistance d. medical care and food assistance e. medical care and housing assistance
The country of Glassen has experienced an expansionary gap for the last three years. The advocates of passive policy are likely to suggest a policy which causes _____. a. the short-run aggregate supply to shift to the left
b. the short-run aggregate supply to shift to the right. c. rising prices to shift the aggregate demand to the left. d. wages to fall relatively quickly. e. aggregate demand to shift to the right as wages increase.