Many charities like the Sierra Club are established to deal with externalities
a. True
b. False
Indicate whether the statement is true or false
True
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Keynesian theory emphasizes
A) aggregate supply. B) rational expectations. C) short-run analysis. D) Say's Law.
If the firms in a monopolistically competitive industry are suffering short-run losses, which of the following will occur in the long run?
a. Some firms will enter the industry. b. Customers of firms that leave the industry will switch to remaining firms. c. Firms that remain in the industry will face reduced demand. d. Firms will continue to incur losses. e. There will be no excess capacity.
The practice of a group of firms negotiating a uniform price and fixing agreed-upon market share in order to limit competition is
a. legal in all states but illegal in Washington, D.C. b. called conglomerate behavior c. seldom successful because entry into the industry cannot be denied d. called collusion e. less profitable for each firm than maximizing profit individually
Holding all else constant, an increase in U.S. real GDP will ________ the supply for dollars in the foreign exchange market and ________ the equilibrium Mexican peso/U.S. dollar exchange rate.
A. increase; increase B. decrease; increase C. decrease; decrease D. increase; decrease