The process through which an economy's production possibilities curve shifts outward is:
A. full-employment management.
B. investment.
C. resource renewal.
D. out-resourcing.
Answer: B
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In comparing one market basket, A, to others to the northwest or southeast, we can say that a typical consumer will
a. prefer A to any other market basket. b. prefer any other market basket to A. c. be indifferent between A and any other market basket. d. find any of the above are possible.
If nominal wages are downwardly rigid, a countercyclical policy during a recession leads to ________
A) a fall in consumption B) an increase in tax rates C) an increase in employment D) a fall in investment
The present value of a promise to pay $5,000 every year forever when the prevailing interest rate is 10 percent equals
a. $5,000 b. $50,000 c. $100,000 d. $250,000 e. $500,000
Following mergers that raised the market shares of two airlines to 79 and 82 percent, respectively, of traffic in their hub cities, prices of service rose and the quantities of service fell, even though in most other markets, prices fell and quantities increased. The result suggests thatÂ
A. these markets were contestable. B. there was evidence of market power. C. oligopoly firms bought out their competitors. D. the market had no barriers to entry.