If the entry of new firms in a perfectly competitive industry substantially increases the market demand for resources,
a. this reduces the market price of resources.
b. this raises the market price of resources.
c. the market price of resources does not change.
d. this lowers the ATC curves of individual firms.
b. this raises the market price of resources.
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"Increasing income tax rates will solve the Social Security time bomb issue" is an example of
A) business economic policy. B) a positive economic statement. C) marginal cost exceeding marginal benefit. D) answering the "how" question. E) globalization.
One of describing the debate between activists and non-activists is that
A) activists are pessimistic about the self-correcting powers of the economy but non-activists are optimistic. B) activists tend to be oriented to the long-run but non-activists are short-run oriented. C) non-activists are optimistic about the efficacy of stabilization policy but activists are pessimistic. D) A and B are both correct.
On the eve of the American Revolution, the majority of colonists were naturally born in the colonies rather than immigrants from elsewhere
Indicate whether the statement is true or false
If M = 200, P = 100, and Q = 10, then V is:
a. 20. b. 2. c. 10. d. 5. e. 2,000.