According to the new growth theory, competition
A) reduces profit.
B) increases profit.
C) has no impact on real profit, only nominal profit.
D) is only theoretical because all firms are growing at some rate.
A
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The growth rate of average annual earnings in the United States from 1973 to 1995 was:
A. lower than it was from 1960 to 1973. B. the same as it was from 1960 to 1973. C. higher than it was from 1960 to 1973. D. roughly equal to zero.
Consider the following economic agents:
a. the government b. consumers c. producers Who, in a centrally planned economy, decides what goods and services will be produced with the scarce resources available in that economy? A) producers B) consumers C) the government, consumers, and producers D) consumers and producers E) the government
Since 1950, expansions in the United States have become ________, while recessions have become ________
A) shorter; shorter B) shorter; longer C) longer; longer D) longer; shorter
In the prisoner's dilemma setting for producing and stealing, a tax imposed on participants could end up changing the payoff matrix so that
A) one participant is better off, and one participant is worse off. B) both participants are worse off. C) both participants are better off. D) all of the above are possible