A profit-maximizing monopolist will never produce on the elastic segment of its demand curve
Indicate whether the statement is true or false
false
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A bottleneck is a:
A. negative externality resulting from indirect network externalities. B. positive externality resulting from congestion beyond the infrastructure capacity. C. negative externality resulting from congestion beyond the infrastructure capacity. D. positive externality resulting from network complementarities.
Under the rational expectations hypothesis, if wages adjust rapidly to new information about intended policy actions, monetary policy can have an effect
A) in the long run, but not the short run. B) only in the short run and only if the policy is unanticipated. C) in both the short and the long run. D) only in the long run and only if the policy is fully anticipated.
According to the availability heuristic, which of the following will make Katie more likely believe that she will win a lot of money if she buys a lottery ticket?
A. The fact that it has been several years since she purchased a lottery ticket B. The fact that is has been several years since anyone has won the lottery C. Her boss hinting that she will soon receive a raise at work D. Watching a news report about someone winning 2 million dollars playing the lottery
A fiscal policy action to close a recessionary gap is to:
A. increase government purchases. B. increase the marginal propensity to consume. C. decrease transfer payments. D. increase taxes.