Other things the same, a government regulation that prevents using a current technology raises the price level.
a. true
b. false
Ans: a. true
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Which one of the following is an example of discretionary fiscal policy used to correct an inflationary gap?
A) an increase in government expenditures approved by Congress B) decrease in the money supply by the Federal Reserve C) a tax increase passed into law by Congress D) an agreement among major banks to lower interest rates
An antitrust agency is identifying the product market for Good X and determines that Good X and Good Y have a cross-price elasticity of 15.2. As a result of the cross-price elasticity, the antitrust agency is likely to ________ Good Y from Good X's product market as the products ________ compete as close substitutes.
A) exclude; do not B) exclude; do C) include; do not D) include; do
If the U.S. purchased $100 billion in foreign assets and foreigners purchased $50 billion of U.S. assets, which of the following is true?
a. Net exports equal -$50 billion. b. Exports total $100 billion. c. There is a trade deficit. d. Net exports equal $50 billion. e. Imports total $50 billion.
Refer to the data provided in Table 9.1 below to answer the question(s) that follow.
Table 9.1
Refer to Table 9.1. The shutdown point for this firm is a price of
A. $0. B. $10. C. $15. D. $28.