When a recession is triggered by a(n) ________ in autonomous expenditure, and as the economy turns the corner into ________, real GDP exceeds aggregate planned expenditure and unplanned inventories ________
A) increase; recession; increase
B) decrease; expansion; decrease
C) decrease; expansion; increase
D) decrease; recession; decrease
E) decrease; recession; increase
E
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Economics only applies to
A. decision making by households. B. decision making by governments. C. decision making by business firms. D. all of these kinds of decisions.
A possible solution to the network externality problem is the government limiting the size of networks
a. True b. False Indicate whether the statement is true or false
Breaking a monopoly firm into several rival firms will be unlikely to improve economic efficiency when economies of scale are important because
a. several smaller firms will have higher per-unit costs than a single larger firm. b. a single firm will have higher per-unit costs than several smaller firms. c. it is harder to regulate many smaller firms than it is one large firm. d. consumers will find it harder to choose among the products of many alternative sellers.
The Supplemental Security Income (SSI) program focuses on the poor who are sick or disabled
a. True b. False Indicate whether the statement is true or false