One of the largest categories of exports from the United States is now pop culture: movies, music, TV programming, and videos. A direct conclusion from this information is that, compared to other countries, the United States has
A) lower wages for producers of pop culture.
B) higher wages for producers of pop culture.
C) a higher opportunity cost of producing pop culture.
D) a lower opportunity cost of producing pop culture.
D
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Each firm in a monopolistically competitive market
a. earns both short-run and long-run profits. b. faces a downward-sloping demand curve. c. cannot earn economic profit in the short run. d. sets price equal to marginal cost.
Suppose individuals expect future output to be lower and future interest rates to be lower. Given this information, how will individuals alter consumption in the current period? Explain
What will be an ideal response?
Which of the following is not economic investment?
A. The purchase of a new drill press by the Ajax Manufacturing Company. B. The purchase of 100 shares of AT&T by a retired business executive. C. Construction of a suburban housing project. D. The piling up of inventories on a grocer's shelf.
A temporary beneficial productivity shock would
A. increase the expected future marginal product of capital. B. increase future income. C. shift the labor supply curve down and to the right. D. increase the level of employment.