Figure 10-10
indicates the output of the economy, y1, is
a.
less than the economy's long-run capacity.
b.
equal to the economy's long-run capacity.
c.
greater than the economy's long-run capacity.
d.
unattainable, even in the short run.
c
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According to this Application, some households were willing to take on considerable mortgage debt because
A) they realized the mortgage debt would be more than offset by the tax deductions they could take on the interest paid on their mortgage loans. B) this was a safe investment in light of the rapidly increasing inflation in the economy. C) the government's federal home mortgage insurance program would compensate them for any loss in value they may realize based on the purchase price of their homes. D) they were confident they could make money as the values of their homes increased.
Collusion is more successful in a game that will continue forever or in a game with an uncertain ending time, than in a game with a known ending time
Indicate whether the statement is true or false
Last year, on advice from your sister, you bought stock in Burpsy Soda at $100/share. During the year, you collected a $2 dividend and then sold the stock for $120/share. You experienced a
A) dividend yield of 9%. B) dividend yield of 20%. C) dividend yield of 11%. D) total return of 20%. E) total return of 22%.
If a decrease in the price of movie tickets increases the total revenue of movie theaters, this is evidence that demand is:
a. price elastic. b. price inelastic. c. unit elastic with respect to price. d. perfectly inelastic.