Early in President Obama’s term, the government began ______.
a. relying completely on automatic stabilizers for fiscal policy
b. a fiscal policy to slow the rapidly growing economy
c. a fiscal policy designed to maintain the status quo
d. the largest fiscal stimulus policy in U.S. history
d. the largest fiscal stimulus policy in U.S. history
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A movement upward along an upward sloping Engel curve corresponds to
A) upward sloping indifference curves. B) crossing indifference curves. C) a rotation in the budget constraint. D) a parallel shift in the budget constraint.
When a resource has a perfectly elastic supply curve
A) the amount of economic rent for the resource is determined by its supply. B) the amount of economic rent for this resource is determined by demand for the resource. C) there is no economic rent being earned by this resource. D) the entire payment received by this resource is economic rent.
The key explanation for the prevalence of waterway pollution is
a. the inclusion in production of all costs involving use of the waterway. b. that there are private costs but no costs to society. c. that waterways are often an open access, commonly owned resource. d. that waterways are subject to the market's normal control procedures.
Foreign direct investment that takes the form of a new startup facility is called:
a. acquisition FDI. b. greenfield FDI. c. intermediary FDI. d. brownfield FDI.