A competitive firm Select one:
a. and a monopolist are price makers.
b. and a monopolist are price takers.
c. is a price maker, whereas a monopolist is a price taker.
d. is a price taker, whereas a monopolist is a price maker.
Answer: d. is a price taker, whereas a monopolist is a price maker.
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A) The money supply tends to rise. B) The money supply tends to remain unchanged. C) The money supply tends to fall. D) The U.S. budget deficit necessarily rises.
If the actual capital stock exceeds the desired capital stock due to a cycle of overbuilding, then
A) net investment will fall dramatically. B) net investment will increase dramatically. C) net investment will not change. D) the effect on net investment is unknown.
A useful macroeconomic model
A) is extremely realistic. B) is simple. C) never generates testable hypotheses. D) provides a lot of intricate details.
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