To an economist, freeway congestion is a sign that the price to drive on the freeway is
A) below its equilibrium level.
B) at its equilibrium level.
C) above its equilibrium level.
D) either a or c
E) none of the above
A
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In the case where money demand is completely interest insensitive (interest elasticity equals zero), an increase in the quantity of money will
a. increase income but leave the interest rate unchanged. b. increase income and lower the interest rate. c. lower the interest rate but leave income unchanged. d. leave both income and the interest rate unchanged.
What is meant by the concentration of an industry? How is concentration measured? What are likely causes of high concentration?
What will be an ideal response?
The world's largest net debtor nation is
a. Russia b. China c. Brazil d. Mexico e. the United States
Thomas Malthus's model made the mistake of failing to consider:
A. comparative advantage. B. scarcity. C. technological progress. D. inflation.