Potential GDP is also referred to as
A) full-employment GDP. B) politico-economic GDP.
C) realized GDP. D) balanced-budget GDP.
A
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Refer to Figure 5-5. If, because of an externality, the economically efficient output is Q2 and not the current equilibrium output of Q1, what does D1 represent?
A) the demand curve reflecting social benefits B) the demand curve reflecting the sum of private and social benefits C) the demand curve reflecting private benefits D) the demand curve reflecting external benefits
One of the earliest practitioners of an infant industry policy was
a. Brazil b. Ghana c. India d. The United States e. none of the above
Suppose Always There Wireless serves 100 high-demand wireless consumers, who each have a monthly demand curve for wireless minutes of QdH = 200 - 100P, and 300 low-demand consumers, who each have a monthly demand curve for wireless minutes of QdL = 100 - 100P, where P is the per-minute price in dollars. The marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.25 per minute. If Always There Wireless charges the highest fixed fee that it can without losing the low-demand consumers, what are the profits from sales to each of the low-demand consumers?
A. $9.38 B. $28.13 C. $153.13 D. $1.00
"Trust busting," including the prosecution of the American Tobacco Company and Standard Oil, was a high priority of _________'s administration
a. Franklin Roosevelt b. Ulysses S. Grant c. James Garfield d. Theodore Roosevelt