Points on the utility possibility frontier are
A. inefficient.
B. points of incomplete preferences.
C. not producible.
D. Pareto.
D. Pareto.
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The DeBeers Company of South Africa was able to block competition through
A) ownership of an essential input. B) differentiating its product. C) government-imposed barriers. D) economies of scale.
Suppose in the market for labor that the labor supply curve is perfectly inelastic. This would mean that the supply curve is vertical. Furthermore, suppose that demand is normal and downward sloping. Your textbook has explained that unemployment taxes are paid entirely by the employer (demanders). Who actually pays the tax in the scenario described above?
What will be an ideal response?
In order to reduce the possibility of adverse selection, banks should raise the interest rates charged on loans
a. True b. False Indicate whether the statement is true or false
If the public has correct rational expectations and the Fed reduces both reserve requirements and the discount rate, it would be expected to result in: a. a higher level of real output and a lower price level. b. a lower price level but no change in real output
c. a higher price level and a reduced level of real output. d. a higher price level but no change in real output.