Under the gold standard, a nation’s domestic economic policy
a. was subordinate to balance-of-payments adjustments.
b. controlled balance-of-payments adjustments.
c. was unrelated to balance-of-payments adjustments.
d. was controlled by the World Bank.
a. was subordinate to balance-of-payments adjustments.
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A natural monopoly arises when
A) one firm controls the supply of a unique resource. B) a firm has many small firms that it can control. C) there are firms which act together as a monopoly. D) the long-run average cost curve slopes downward as it crosses the demand curve. E) one firm naturally convinces the government to limit competition in the market.
In which of the following market structures with two identical firms do both firms produce more than the Cournot outcome?
A) Stackelberg Oligopoly B) Cartel C) Perfect Competition D) None of the above
Between 2001-2005,
a. both sub-prime and adjustable rate mortgages decreased as a share of the total. b. both sub-prime and adjustable rate mortgages increased as a share of the total. c. sub-prime loans increased, but adjustable rate loans decreased as a share of the total. d. sub-prime loans decreased, but adjustable rate loans increased as a share of the total.
Suppose that the MPC is 0.7, there is no investment accelerator, and there are no crowding-out effects. If government expenditures increase by $30 billion, then aggregate demand
a. shifts rightward by $100 billion. b. shifts rightward by $51 billion. c. shifts rightward by $170 billion. d. shifts rightward by $72.8 billion.