Monopolistic competitors tend to act independently because:
a. each firm controls a large share of the market
b. each firm controls a very small share of the market.
c. there are few sellers in the market.
d. there are few buyers in the market.
b
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The equation, ?Y/Y = ?A/A + aK?K/K + aN?N/N, is known as
A) the production function. B) the Solow model. C) the productivity formula. D) the growth accounting equation.
In a closed economy, national saving equals
A) C + I + G. B) Y - C - G. C) Y - C - I. D) Y - G - I.
_________ is the Japanese word meaning death from over work
a. Karoshi b. Tora c. Samauri d. Santori
Which of the following solutions to recessions came from the short-run macro model?
a. A non-interventionist wait and see solution b. Increasing taxes c. Decreasing the federal deficit to jump-start the economy d. Increasing government spending to jump-start the economy e. None of the above