A simultaneous improvement in the technology used to produce computers and increase in the number of buyers in the computer market would cause the equilibrium price of computers to drop but have an uncertain effect on equilibrium quantity
Indicate whether the statement is true or false
FALSE
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The Atlantic City Expressway is a highway that runs from outside Philadelphia to Atlantic City, New Jersey. It is notoriously congested during the summer weekends when many people are driving to the beach about the same time. The marginal private cost for a driver of driving on the Expressway includes
I. the cost of gasoline. II. the cost of increasing congestion for everyone else. A) I only B) II only C) Both I and II D) Neither I nor II
A firm with a flat demand curve
A) has no brand loyalty. B) has weak brand loyalty. C) has strong brand loyalty. D) isn't really worried about brand loyalty; flat demand curves guarantee zero profit.
The nation's antitrust laws are enforced by economists at the Department of
a. Labor. b. Health and Human Services. c. Justice. d. Treasury.
Who did President Jimmy Carter appoint to head the Federal Reserve beginning in 1979?
a. Ben Bernanke b. Alan Greenspan c. Paul Volcker d. Arthur Burns