Fiscal policy during periods of relatively low unemployment and low inflation have
A) little effect due to time lags and the crowding-out effect.
B) significant effect due to the timely intervention of the president and congress.
C) significant effect because the changes in fiscal policy gives investors confidence in the economy.
D) little effect because the global market makes up fifty percent of aggregate spending.
A
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Points outside the production possibilities frontier illustrate production points that cannot be attained
Indicate whether the statement is true or false
Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000 - 200P, where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. The Cournot model describes the competition in this market. Which of the following best represents Kate's inverse residual demand function?
A. P(QK) = (100 - 0.005QA) - 0.005QK B. P(QK) = (100 - 0.005QK) - 0.005QA C. P(QK) = (200 - 0.005QA) - 0.005QK D. P(QK) = (200 - 0.005QA) - 0.005QA
A market that mainly stresses product differentiation is called
A) perfectly competitive. B) monopolistically competitive. C) a monopoly. D) an oligopoly.
Social demand is equal to
A. Tax revenue plus or minus externalities. B. Public demand plus or minus externalities. C. Market demand plus or minus externalities. D. Private goods plus or minus externalities.