The key reason that the bursting of the tech-stock bubble of the late 1990s had a mild impact on the macroeconomy is ________
A) rapid intervention by the central bank averted economic catastrophe
B) the increase in tech-stock prices was driven by the economic fundamental of technological progress
C) the technology sector is a rather small portion of the aggregate economy
D) tech-stock prices had not been much influenced by credit availability
D
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The calculation of GDP excludes the value of
A) government expenditure on office supplies. B) households' purchases of shampoo. C) businesses' purchase of new machine tools. D) a family member painting the family home. E) expenditure on durable goods.
Assume a firm lowers price below marginal cost to deter entry
A) This strategy is not credible. B) This strategy is credible. C) This strategy is illegal. D) This strategy is immoral.