Politicians and economists who are generally conservative tend to believe that
A. the self-correcting mechanism is slow and unpredictable.
B. the short-run Phillips curve is relatively steep.
C. the costs of unemployment are high.
D. expectations in reaction to policy measures are very slow to change.
Answer: B
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Which antitrust law prohibited firms from buying stock in competitors and from having directors serve on the boards of competing firms?
A) the Sherman Act B) the Robinson-Patman Act C) the Clayton Act D) the Securities and Exchange Act
Given the same marginal revenue product (MRP) and supply curves, the equilibrium quantity of labor employed in a monopsonistic labor market will be:
a. equal to that in a competitive labor market. b. less than that in a competitive labor market. c. greater than that in a competitive labor market. d. there is insufficient information for a conclusion.
The principal-agent problem:
A. is caused by the principal having imperfect information about the agent. B. is caused by the principal being unable to perfectly observe the actions of the agent. C. arises from an imbalance of information. D. All of these statements are true.
A global network that provides knowledge and resources to developing countries is called the:
A. International Resource Fund. B. World Bank. C. World Trade Organization. D. United Nations Development Program.