Examples of assets that are included in household wealth would be
A) stocks, credit cards, and savings accounts. B) stocks, bonds, and savings accounts.
C) stocks, bonds, and mortgages. D) stocks, loans owed, and savings accounts.
B
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If an incumbent cannot commit and faces an identical potential entrant with relatively high fixed costs that are below the level where entry is blockaded, the incumbent will
A) produce the Cournot duopolist level of output. B) produce the Stackelberg leader level of output. C) set price equal to marginal cost. D) produce a level of output that is greater than the Stackelberg leader level of output.
When the world price of the traded good is lower than the domestic no-trade equilibrium price, free trade causes domestic production to fall and domestic consumption to rise
a. True b. False Indicate whether the statement is true or false
If a town begins requiring builders to build on one-acre lots, instead of on smaller quarter-acre lots, the supply curve for new homes will
A. shift to the right. B. become flatter. C. shift to the left. D. become steeper.
GDP excludes expenditures by:
a. Government on military hardware b. Business for travel and entertainment c. Consumers on used automobiles d. Businesses on pollution control equipment