After investigating an idea to open a rooftop restaurant in the downtown area of your community, you discover that any rooftop restaurant would violate city regulations. These circumstances would not be considered normal due to:
A. innovation.
B. market failure.
C. intervention.
D. goals other than profit.
C. intervention.
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In the figure above, if a tax of $2 per widget is imposed on sellers, then the after-tax amount per widget received by the seller will be
A) more than or equal to $8. B) between $8 and $6. C) $6. D) less than $6.
Which of the following best defines an optimum currency area?
A) a group of nations sharing the same currency B) a group of regions in close proximity to each other. C) a group of regions who operate under similar economic policies. D) a group of regions with economies closely linked by factor mobility and by trade in goods and services E) a group of nations that engage in free trade with each other
New Keynesian theory says that
a. changes in the money supply can have long run and short run effects on real variables. b. changes in the money supply can have short run effects on real variables, but not long run effects. c. changes in the money supply can have long run effects on real variables, but not short run effects. d. changes in the money supply have no effect on real variables in the short run or the long run.
Decisions have history. The _________ Model shows the importance of reference groups
a. Re-invent b. Elbing c. Chain d. Central-satellite