In making a production decision, a business owner:
A.) Decides whether to enter or exit the market.
B.) Makes a long-run decision about output and revenues.
C.) Decides whether to buy or lease new plant and equipment.
D.) Decides the short-run rate of output.
D.) Decides the short-run rate of output.
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Although GDP is not the same as economic well-being, high levels of GDP are positively correlated with all of the following except:
A. longer life expectancies. B. higher rates of infant mortality. C. higher material standards of living. D. higher rates of literacy.
The reason individual homeowners usually do not hire a private contractor to fill the potholes on their street is because:
a. it costs too much. b. the value to the neighborhood exceeds the cost of repair. c. others who use the street will be free riders. d. they do not trust the government. e. there are negative externalities associated with the repair.
When tax code changes increase investment incentives, the _____ for loanable funds curve shifts to the _____. This results in a(n) _____ in the interest rate and a(n) _____ in investment
Fill in the blank(s) with correct word
The chief difference between one-shot inflation and continued inflation is that
A) Keynesians believe all inflations are one-shot inflations and monetarists believe all inflations are continued inflations. B) one-shot inflation is long and continued inflation is short. C) one-shot inflation is a single increase in the price level and continued inflation is a sustained increase in the price level. D) monetarists believe all inflations are one-shot inflations and Keynesians believe all inflations are continued inflations.