Network affects can be present when the
A) internet was initially open to everyone.
B) costs of production are low relative to the cost of distribution.
C) cost of production are low relative to the costs of rent-seeking.
D) costs of distribution are low relative to the costs of production.
D
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A change in the price of a good
A) shifts the good's demand curve and also causes a movement along it. B) shifts the good's demand curve but does not cause a movement along it. C) does not shift the good's demand curve but does cause a movement along it. D) neither shifts the good's demand curve nor causes a movement along it.
In the short run,
a. the labor market is always in equilibrium b. actual output can deviate from potential output c. crowding out is always complete d. total output is independent of spending e. spending is independent of total income