Perfect competition is characterized by:
What will be an ideal response?
the inability of any one firm to influence price.
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Ricardian Equivalence theory assumes that ________
A) an anticipated increase in the income of future generations will reduce the amount that is saved today on their behalf B) government spending remains constant C) many people are subject to borrowing constraints D) tax cuts have a positive impact on aggregate supply
The choice between hawk and dove positions depends on
a. the extent of cyclical unemployment at the time of the decision b. relative importance of short-run and long-run monetary considerations c. cooperation between Congress and the monetary authorities d. the frequency of negative supply shocks e. the Fed's relative concern for price and employment stability
The slope of the supply of loanable funds curve represents the
a. positive relation between the real interest rate and investment. b. positive relation between the real interest rate and saving. c. negative relation between the real interest rate and investment. d. negative relation between the real interest rate and saving.
Which of the following is FALSE?
A) At the end of the twentieth century, more and more traded goods and services incorporated specialized knowledge and unique ideas. B) Pharmaceuticals, computer hardware, telecommunications equipment, and other high technology products are valuable because of the innovation and research they incorporate. C) Developing countries usually strongly advocate the protection of intellectual property rights. D) The protection given to creators and innovators varied greatly internationally until standardization began with the signing of the TRIPs agreement.