Higher interest rates make it:
A. more expensive to borrow.
B. harder to get a loan typically.
C. easier to get a loan typically.
D. less expensive to borrow.
A. more expensive to borrow.
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"It is clear from the theory of monopolistic competition that product development is not pushed to its efficient level." This statement is
A) false because there is so much product differentiation in monopolistic competition. B) true because there is little incentive to innovate in monopolistic competition. C) false because there are so many wasteful innovations in monopolistic competition that are merely cosmetic. D) true because price exceeds marginal revenue in monopolistic competition.
The efficacy of tax incentives as an instrument of activist fiscal policy
A) has been proven to be very substantial in the view of most economists. B) is not plagued by a substantial lag between the passage of tax legislation and the resulting investment spending. C) is subject to debate but still is limited by the "legislative lag." D) has been proven to be so limited that it is no longer considered to be a serious option by most economists.