____ refer to goods and services that are produced domestically and sold in another country
a. Imports
b. Exports
c. Intermediary goods
d. Merit goods
b
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Which of the following indicates that the U.S. economy has become more stable since 1950?
A) less severe fluctuations in real GDP B) longer recessions C) shorter expansions D) All of the above indicate that the U.S. economy has become more stable since 1950.
Senior citizens can buy movie tickets at a lower price than the general public. This is an example of
A) age discrimination. B) demand discrimination. C) price discrimination. D) price differentiation.
When property rights are poorly defined,
a. positive or negative externalities may result b. the market cannot generate an equilibrium price c. the market price becomes highly unstable d. the market must be relied upon to generate efficient allocation of resources e. no externalities can exist
The tendency for nominal interest rates to be high when inflation is high and low when inflation is low is known as:
A. deflating. B. shoe leather costs. C. the Fisher effect. D. the consumer price index.