Which of the following is true in long-run equilibrium for both perfect competition and monopolistic competition?
a. Accounting profit is zero.
b. Marginal cost equals price.
c. Long-run average cost is at a minimum.
d. Economic profit is zero.
d
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If the fiscal policy makers aim to increase aggregate demand, they will likely enact:
A. expansionary fiscal policy. B. contractionary fiscal policy. C. expansionary monetary policy. D. contractionary monetary policy.
If I worry that if I cut my price, you will cut yours, then I am acting as if we are interdependent
Indicate whether the statement is true or false
Among the very rich, the main source of income is most likely their wages
Indicate whether the statement is true or false
Currently, college graduates are earning about ____ more than high school grads over the course of their careers
a. $100,000 b. $1,000,000 c. 25% d. 60%