The funds used to buy and operate physical capital are
A) depreciation.
B) financial capital.
C) saving.
D) wealth.
B
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Answer the following statement(s) true (T) or false (F)
1. An attorney that finds a loophole in a law has formed a creative response to the law. 2. The amount of output produced by two firms in a Cournot oligopoly setting is greater than that produced by a monopoly, but smaller than that which would be produced if the market were perfectly competitive. 3. According to the Bertrand model, price and output is higher under oligopoly than under competition. 4. A firm has monopoly power when it is the single seller of a good or service. 5. If a monopoly desires to raise its profits, it can simply raise the price it charges.
A decrease in the quantity of money supplied shifts the money supply curve to the ________, and the equilibrium interest rate ________, everything else held constant
A) right; falls B) right; rises C) left; falls D) left; rises
A local restaurant offers an "all-you-can-eat" salad bar for $3.49. However, with any sandwich, a customer can add the "all-you-can-eat" salad bar for $1.49. This is an example of
A) peak-load pricing. B) second-degree price discrimination. C) a two-part tariff. D) tying. E) none of the above
E. Carey Brown, an MIT economist, studied government deficits during the Great Depression and found that even though actual deficits were large, the structural deficit changed very little. Which of the following statements is consistent with this finding?
a. Fiscal policy did not work during the Depression. b. Fiscal policy made the Depression worse. c. Fiscal policy was not tried during the Depression. d. Fiscal policy improved the economy during the Depression.