When an economy's actual output differs from its potential at some point in time, we say that it is experiencing:
A. a boom.
B. a recession.
C. an output gap.
D. an inflationary gap.
Answer: C
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The elasticity of a demand curve at any point can be ascertained by its steepness.
Answer the following statement true (T) or false (F)
Studies of the major developed countries show that when businesses go looking for funds to finance their activities they usually obtain these funds from
A) government agencies. B) equities markets. C) financial intermediaries. D) bond markets.
Describe what is meant by economies of scope and explain how financial institutions' realizing economies of scope has led to an increase in conflicts of interest
What will be an ideal response?
If the payoff to the United States to pursuing nuclear weapons is 100 if the USSR does not pursue nuclear weapons and 50 if they do, and the payoff to the USSR to pursuing nuclear weapons is 80 if the USA doesn't pursue nuclear weapons and 30 if they
do, what is the non-cooperative equilibrium? A) The USA pursues nuclear weapons, the USSR does not. B) The USA pursues nuclear weapons, the USSR pursues nuclear weapons. C) The USA does not pursue nuclear weapons, the USSR does not pursue nuclear weapons. D) The USA does not pursue nuclear weapons, the USSR does pursue nuclear weapons.