The Federal Reserve econometric model estimates that it takes __________ for crowding out to reduce the impact of a 1 percent increase in government spending, with the money supply held constant, to zero
A) 2 years
B) 3 years
C) 4 years
D) Crowding out never reduces the impact to zero.
B
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Refer to Figure 14-5. If Netflix lowers its price, will this deter Spotify from setting up a streaming video service?
A) no, because Spotify will make a larger profit than Netflix if it chooses to compete B) yes, because Spotify stands to lose $1 million if it competes with Netflix C) no, because Spotify will make a profit if it competes with Netflix D) yes, because Spotify will make a smaller profit than Netflix if it chooses to compete
In long-run equilibrium, all firms in a pure competition market situation operating under a condition of certainty will have identical costs even though they may use different production and operation techniques
a. true b. false
It is possible to purchase diplomas from diploma mills. The situation in which the degrees are more important than the knowledge they are supposed to represent is called:
A. accreditation. B. credentialism. C. cretinism. D. diplomacy.
Relative to a single price monopolist, a price discriminating monopolist generates:
A. less total surplus. B. more total surplus. C. the same amount of total surplus, but less consumer surplus and more producer surplus. D. the same amount of total surplus, but more consumer surplus and less producer surplus.