Studying how Joshua allocates his time between school and video games is an example of
A. industrial organization.
B. microeconomics.
C. macroeconomics.
D. descriptive economics.
Answer: B
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If firms in a perfectly competitive market are incurring economic losses, then as time passes firms ________ and the market ________
A) enter; demand curve shifts leftward B) enter; supply curve shifts rightward C) exit; demand curve shifts leftward D) exit; supply curve shifts rightward E) exit; supply curve shifts leftward
Suppose the monetary policy curve is r = 5 + 0.8?, and the current values for output and inflation are 16.8 and 2 percent, respectively. An increase in global resource prices pushes the inflation rate to 4 percent
Policy makers estimate that the monetary policy in place, responding to 4 percent inflation, will bring output down to 13.6, a decline considered excessive. Instead, they implement an autonomous easing of monetary policy to lower output from 16.8 to 16. Assuming no change in the slope of the monetary policy curve, determine the new curve.
A bond’s price is sensitive to changes in
A. the interest rate. B. the accepted rate of return on investment. C. investor confidence in the stability and credit worthiness of the firm. D. All of these responses are correct.
The degree of income inequality produced by competitive markets, in Professor Rawls' view, is:
A. greater than the amount people would prefer. B. minor. C. acceptable. D. consistent with the ideal amount.