Based on the graph showing equilibrium output and price for a monopolist, profits stop growing when production goes beyond which point?
a. QD
b. Q1
c. Q2
d. QM
d. QM
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A country experiencing an international financial crisis will likely
A) be able to maintain growth and prosperity in its domestic economy, but its export sector will suffer. B) see an increase in foreign direct investment. C) see an increase in portfolio investment. D) encounter difficulty in sustaining its economic growth rate.
Whenever the price of Good A decreases, the demand for Good B increases. Good A and B appear to be: a. complements. b. substitutes
c. inferior goods. d. normal goods.
Given the current structure of the Social Security and Medicare programs, the retirement of the baby boom generation during the years following 2012 will be most likely to
a. reduce government expenditures on health care and income transfers. b. increase government expenditures on health care and income transfers. c. result in large budget surpluses. d. result in lower tax rates.
The long-run Phillips Curve indicates that macroeconomic policies are effective in increasing output and keeping prices stable in the economy
Indicate whether the statement is true or false