The assignment of inputs to specific industries by central planners is made difficult by
a. the interdependency among industries.
b. lack of data for decision making.
c. the danger of a chain reaction among industries if an error is made at any point.
d. All of the above are correct.
d
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While waiting in line to buy one cheeseburger for $1.50 and a medium drink for $1.00, Sally notices that she could get a value meal that contains both the cheeseburger and medium drink and also a medium order of fries for $2.75 . She thinks to herself, "Is it worth the extra 25 cents to get the medium fries?" To an economist, Sally's decision is an example of:
a. marginal analysis. b. basing decisions on total, rather than marginal, value. c. an unintended consequence. d. the fallacy of composition.
If the money supply in the economy were at MS2, and the Federal Reserve Bank used open market operations to move money supply to MS1 the overall result in the economy would be:
A. Aggregate demand shifted in, causing GDP to fall.
B. Aggregate supply shifted in, causing GDP to fall.
C. Aggregate demand shifted out, causing GDP to rise
D. LRAS move to the FE level of output.
If Argentina suffers from capital flight, Argentinean domestic investment and Argentinean net exports will both decline
a. True b. False Indicate whether the statement is true or false
The problems faced by oligopolies with three or more members are entirely different from the problems faced by duopolies
a. True b. False Indicate whether the statement is true or false