The implementation lag for fiscal policy ________ it is for monetary policy
A) can be much longer than
B) is generally much shorter than
C) is usually the same as
D) There is not an implementation lag for fiscal policy.
A
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Suppose that when the price of raspberries increases, Lonnie increases his purchases of papayas. To Lonnie
A) raspberries and papayas are substitutes. B) raspberries and papayas are complements. C) raspberries and papayas are normal goods. D) raspberries and papayas are inferior goods.
In order to use lock-in as a competitive strategy, firm managers should be prepared to do all of the following except:
A) invest in a given base of customers by giving concessions initially. B) avoid selling complementary products and access to the customer base. C) be the first to bring a new type of product to market. D) use loyalty programs as part of an entrenchment strategy.
Say you and two friends are 13,500 feet into a hiking trip to the summit of a 14,000 peak in Colorado. At that point, a rainstorm comes up all of a sudden and makes the last 500 feet trek quite treacherous. One of your friends wants to stop and head down and argues it would be dangerous to continue. He says he doesn't care about the 4 hours he has hiked already to get where he is, he only cares about the final 500 feet. Your other friend, however, wants to continue and argues that it would be stupid to quit so close to the summit, especially after all the hard work you have incurred. Which one of your two friends has a more rational argument? Please explain using the concepts from the textbook.
What will be an ideal response?
Refer to Figure 26.1 for a monopolistically competitive firm. The profit-maximizing output and price combination for this firm in the short run is
A. Q1,P1. B. Q2,P1. C. Q4,P3. D. Q2,P4.