The shortest time lag for monetary policy is the implementation lag.
a. true
b. false
Ans: a. true
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Which of the following happens when oligopolistic firms decide to cooperate? a. Barriers to entry are relaxed. b. Net social welfare increases. c. The same level is produced as in a monopoly
d. Consumer surplus is the same as it would be in a competitive market.
Which of the following statements accurately describes the economy with an inflationary gap?
a. SRAS intercepts AD3 at ESR.
b. RGDP3 is less than RGDPNR.
c. SRAS intercepts LRAS at ESR.
d. ESR occurs along LRAS.
Refer to the above graph. The pure monopolist firm will charge a price of:
A. P1. B. P2. C. P3. D. P4.
Unsustainable debt may occur for all of the following reasons EXCEPT
A) when countries are dependent on one or two key export commodities, and there is a sudden drop in the price of those commodities. B) when natural disasters occur. C) when civil conflicts are resolved and a peace dividend occurs. D) when there are corrupt politicians and practices.