An American farmer today feeds over ______ people.
A. 15
B. 30
C. 50
D. 100
D. 100
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Unlike a perfectly competitive firm, a monopolistically competitive firm
a. faces a perfectly inelastic demand curve. b. can earn positive economic profit in the short run and in the long run. c. cannot earn positive economic profit even in the short run. d. has a negatively sloped demand curve.
Which of the following formulas is used to find the cumulative increase in AD from a particular fiscal stimulus?
A. The multiplier × fiscal stimulus. B. Fiscal stimulus ÷ MPC. C. MPC × fiscal stimulus. D. Fiscal stimulus ÷ the multiplier.
Places where foreign currencies are bought and sold are
A. Foreign exchange reserves. B. Currency appreciation markets. C. Foreign exchange markets. D. Capital account markets.
Under a cap-and-trade program, what would happen if governments reduce firms' pollution caps?
A. The marketing cleaning price of pollution permits will not change. B. The market clearing price of pollution permits will increase. C. The marketing clearing price of pollution permits will cease to exist. D. The market cleaning price of pollution permits will decrease.