One of President Obama's first fiscal policy initiatives was
a. ARRA.
b. TARP
c. QE1.
d. QE2.
a
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Selling at a price that is only slightly above the firm’s cost of production is called predatory pricing.
Answer the following statement true (T) or false (F)
If someone invents a more cost effective way to produce frozen pizzas, then
A. The market supply curve for frozen pizzas will shift to the right. B. There will be a movement up along the market supply curve for frozen pizzas. C. There will be a movement down along the market supply curve for frozen pizzas. D. The market supply curve for frozen pizzas will shift to the left.
Suppose the following information describes the economy:Household saving300Business saving700Government purchases1,000Government transfers and interest payments500Government tax collections1,500GDP5,000Public saving equals ____and national saving equals ________.
A. 1,000; 2,000 B. 0;0 C. 0; 1000 D. 0; 300
As with many public goods, determining the appropriate level of government support for the production of general knowledge is difficult because
a. patents correct for an unknown portion of the externality. b. benefits are hard to measure. c. members of Congress are often experts in the sciences. d. the costs always exceed the benefits.