Through the start of 2009, Social Security revenues exceeded payouts, and the excess inflow was used to buy:
A. Public lands
B. Gold certificates
C. Foreign securities
D. Treasury securities
D. Treasury securities
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When GM advertises its cars, the company is trying to cause a
A. rightward shift in the supply. B. rightward shift in the demand. C. leftward shift in the supply. D. leftward shift in the demand.
If the ice cream industry is monopolistically competitive, then: a. the price of ice cream equals marginal cost in equilibrium
b. the price of ice cream equals average cost in long-run equilibrium. c. the price of ice cream is less than marginal cost in equilibrium. d. there are significant barriers to entering the ice cream business.
The sum of the balances in the current and capital accounts in the balance of payments must equal zero
Indicate whether the statement is true or false
We know that in the long run, perfectly competitive firms produce where MC = MR and end up making zero economic profit. The profit-maximizing output level for a monopolist is where
a. price is maximized b. quantity is maximized c. ATC curve is minimized d. maximum efficiency is achieved e. MR = MC