Because monetary stimulus overwhelmed fiscal contraction in the United States during the 1992–2000 period,
A. real GDP grew.
B. real GDP decreased.
C. the rate of inflation increased.
D. the budget deficit increased.
Answer: A
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Joe Santos owns the only pizza parlor in a small town that is also home to a McDonald's, a Taco Bell, and a Kentucky Fried Chicken. Using a broad definition of a monopoly, Joe has a monopoly
Indicate whether the statement is true or false
Vacation tours to Europe invariably package visits to disparate regions: cities, mountains, and the seaside. Bundling, a type of second degree price discrimination, is most profitable when:
a. the preference rankings of vacationers travelling together are negatively correlated. b. a preference for cities is always higher than preferences for mountain vistas. c. preference rankings of vacationers travelling together are positively correlated. d. preference for the seaside is always higher than preferences for city excursions. e. no one wants to take a European vacation package to cities, mountains, and the seaside.
National income is equal to gross domestic product minus:
a. indirect business taxes. b. depreciation. c. personal taxes. d. retained earnings. e. consumption spending.
When it is cheaper for one firm to produce a particular product, ____ exist(s)
a. economies of scale b. economies of scope c. diminishing marginal returns d. cross-subsidization