For a profit-maximizing monopolistically competitive firm, for the last unit sold, the marginal cost of production is less than the marginal benefit received by a customer from the purchase of that unit
Indicate whether the statement is true or false
TRUE
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Gross domestic product is the money value of all final goods and services produced in an economy in a year.
Answer the following statement true (T) or false (F)
In the United States there are some methods to save which reduce taxes on savings. These include
A) stock purchases. B) commodity purchases. C) money market accounts. D) retirement plans like 401Ks and 403Bs.
The permanent-income hypothesis can reconcile the cross-section and time-series consumption studies by incorporating the reasonable assumption that at any one time many people are poor because they have ________ transitory income, causing them to
have an unusually ________ saving ratio. A) positive, high B) positive, low C) negative, high D) negative, low
If real interest rates in the United States fell and real interest rates in England rose, we would expect people to: a. increase their demand for British pounds. b. borrow more from U.S. sources
c. buy relatively more British assets. d. all of the above