IF a period of substantial inflation, increasing gov. spending would _________
Fill in the blank(s) with the appropriate word(s).
Answer: make the inflationary problem worse
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Economics can be described as the study of how people use ________ resources to satisfy ________ wants
A) unlimited; unlimited B) unlimited; limited C) limited; unlimited D) limited; limited
At a quantity above the equilibrium quantity, which of the following does not exist? a. deadweight loss b. underproduction
c. overproduction d. inefficient production
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.
The Microsoft Corporation was sued by the government for all but which one of the following antitrust violations?
A. Stealing competitors' secrets. B. Discouraging computer manufacturers from installing any operating system other than Microsoft's. C. Buying out potential competitors. D. Bundling software.