Government default is also called
A) debt restructuring.
B) debt rescheduling.
C) private sector involvement.
D) all of the above
D
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If Chinese consumers want to buy US goods, they will
a. Buy Yuan and sell US Dollars b. Sell Yuan and buy US Dollars c. Neither buy nor sell Yuan d. Neither buy nor sell dollars
Which of the following is an example of a temporary price differential in a resource market?
a. land downtown is more expensive than land in the suburbs b. a superstar professional basketball player is paid more than the average professional player c. cable television installers have a higher wage than telephone installers d. an airline pilot is paid more than a flight attendant e. a worker in a toxic waste plant earns more than a teacher
In the long run, each firm in a competitive industry earns
a. zero accounting profits. b. zero economic profits. c. positive economic profits. d. Both a and b are correct.
In the short run, whenever excess demand exists, it is necessary to
A. impose a price ceiling on the good. B. ration the good. C. increase the supply of the good. D. put the good on sale.