Governments can improve market outcomes for
a. public goods but not common resources.
b. common resources but not public goods.
c. both public goods and common resources.
d. neither public goods nor common resources.
c
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If workers push for wages that are beyond what productivity gains can justify ________
A) a temporary negative supply shock ensues driving up prices B) a negative output gap ensues which will lead to higher unemployment if the Federal Reserve does not act C) and the Federal Reserve eases monetary policy aimed at increasing aggregate demand to counter the negative supply shock, a price-wage spiral could ensue D) all of the above E) none of the above
A firm that reduces its research and development spending will expect competitor firms to reduce research and development spending as competition is reduced.
Answer the following statement true (T) or false (F)