Which of the following is NOT a reason social returns might be greater than private returns?
A) Excess competition between firms
B) Knowledge spillovers
C) Spillovers from research and development
D) Capital market imperfections
A
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As the nominal interest rate increases, the opportunity cost of holding money ________ and the quantity of money demanded ________
A) decreases; decreases B) increases; increases C) decreases; increases D) increases; decreases E) increases; does not change because people need money
The type of commercial policy followed by England under the navigation laws
(a) was followed throughout the 17th and 18th centuries but not by any governments today. (b) was followed throughout the 17th and 18th centuries and is still pursued, in one way or another, by all governments in the world today. (c) was followed throughout the 17th, 18th, and 19th centuries but not by most governments today. (d) was followed throughout the 17th and 18th centuries and by European governments today, but not by the United States since the founding of the nation.
Use the above table. Assuming constant opportunity costs, the opportunity cost of producing donuts in country Alpha is ________, and the opportunity cost of producing donuts in country Beta is ________
A) 1 donut; 0.17 donut
B) 1 donut; 6 donuts
C) 10 donuts; 12 pizzas
D) 0.2 pizza; 1.67 donuts
Tariffs and quotas on imported goods used as inputs in production shift the
A. AS curve to the left. B. AS curve to the right. C. AD curve to the right. D. None of the choices are correct.