An incumbent announces it will significantly increase output in the next period, but only has contracts for the amount produced this period. The announcement is a
A) credible threat.
B) non-credible threat.
C) commitment.
D) mixed strategy.
B
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If currency outside of banks is $800 billion; traveler's checks are $10 billion; checkable deposits owned by individuals and businesses are $700 billion; savings deposits are $4,000 billion; small time deposits are $1,000 billion; and money market
funds and other deposits are $800 billion, then M2 equals ________ billion. A) $7,310 B) $5,800 C) $710 D) $2,510 E) $1,510
If we wanted to analyze the effects of a $2 unit tax graphically, we would shift the
A) supply curve upward by $2. B) supply curve downward by $2. C) demand curve upward by $2. D) demand curve downward by $2.
Which of the following countries has the most unequal distribution of income?
a. The United States. b. Czech Republic. c. Brazil. d. cannot be determined.
The consumption of water by local residents that may include pesticide runoff from local farmers' fields is an example of
a. market equilibrium. b. market power. c. externalities. d. laissez-faire.