The population and GDP of the European Union is ___________ that of the United States.
A. much less than
B. comparable to
C. much greater than
C. much greater than
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The immediate impact when the Federal Reserve buys government securities
A) from banks is that the level of bank reserves will decrease. B) from government security dealers is that the level of bank reserves and deposits will increase. C) from government security dealers is that the level of bank reserves will increase and the level of deposits decrease. D) from banks is that the level of deposits will increase but bank reserves will decline.
Refer to Scenario 13.2 below to answer the question(s) that follow. SCENARIO 13.2: The government of Stratospheria is currently inviting investors to bid for the exclusive right to provide cable television service to its residents. The market demand for this service is P=55-0.01Q, where Q is the number of households that would subscribe to the cable service and P is the monthly fee charged to the subscribers. The associated marginal revenue curve is MR=55-0.02Q. Fun Cable Company is interested in bidding for the right to provide cable service in Stratospheria. It has a constant average and marginal cost of $5 for providing cable service to each household.Refer to Scenario 13.2. If Fun Cable Company were to be awarded the exclusive right to provide cable service in Stratospheria,
how many households would it service? A. 2,500 B. 2,750 C. 5,500 D. 5,000
Rick finds a great Internet deal on an all-inclusive vacation rental in the Tropics for $1200, and immediately places a $1000 nonrefundable deposit on it. He later learns that the dates he planned to go are right in the middle of hurricane season, and it is likely to be miserable and potentially dangerous weather the entire time. Rick decides he cannot waste the $1000 and takes the trip anyway. While sitting in the rain, miserable, Rick realizes he should have:
A. hired a lawyer for $1000 to sue the travel agency. B. ignored his sunk cost of $1000, and skipped the trip. C. ignored his sunk cost of $1200 and skipped the trip. D. hired a lawyer for $1000 to go to court and try to get his deposit back.
Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher