Most economists believe that the return of ________ during the 2007-2009 recession is a key reason why the recession was so severe
A) high interest rates B) rapid inflation
C) high tariffs D) financial instability
D
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Which of the following is true of a natural monopoly?
a. If regulated, the firm will have a higher level of output than an unregulated firm, whether the regulation is based on average cost, marginal cost, or normal profit. b. If regulated, the firm will have a lower level of output than an unregulated firm, whether the regulation is based on average cost, marginal cost, or normal profit. c. If regulated, the firm that is only allowed a normal profit will be allowed to charge a price in excess of its average cost. d. If regulated, the firm that is only allowed a normal profit will be allowed to produce more than a firm that must set a price equal to its marginal cost. e. If regulated, the firm that is only allowed a normal profit will be allowed to produce more than a firm that must set a price equal to its average cost.
A price floor in a perfectly competitive market
a. is efficient b. is a Pareto improvement c. is effective only if it is set below the equilibrium price d. transfers some surplus from consumers to producers e. transfers some surplus from producers to consumers
Other things the same, if the dollar depreciates relative to the Japanese yen, then
A. the exchange rate falls. It will cost fewer yen to travel in the U.S B. the exchange rate falls. It will cost more yen to travel in the U.S C. the exchange rate rises. It will cost fewer yen to travel in the U.S D. the exchange rate rises. It will cost more yen to travel in the U.S
Harry wants to buy an electric guitar. Which of the following would be the most efficient way for him to do this?
a. Sell a stock. b. Withdraw money from a CD. c. Take cash out of the bank. d. Sell a U.S. Treasury bill.