If profits are maximized (or losses minimized), which of the following conditions is common to both unregulated monopoly and pure competition?
A. MC = P.
B. MC = ATC.
C. MR = MC.
D. P = MR.
Answer: C
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All these factors affect a country's exchange rates, except
a. Inflation b. Interest rates c. Employment d. Price levels
Which of the following categories of business cycle theories includes the theory of “real business cycles”?
a. physical b. monetary c. psychological d. spending and saving
Full employment is defined by most economists as the minimization of
A. cyclical unemployment. B. frictional unemployment. C. seasonal unemployment. D. structural unemployment.
One conceptual problem in assigning assets to M1, M2, and so on, is
A. distinguishing money from “near monies.” B. the problem of measuring asset size. C. the need to agree on a unit of account. D. the different size of financial assets.