Under the model of monopolistic competition, a(an) ________ in the number of firms in the industry will cause ________ to ________
A) increase; average price; decrease
B) increase; average price; increase
C) increase; average cost; decrease
D) decrease; markup; decrease
E) increase; marginal cost; decrease
A
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Refer to the table above. The opportunity cost per dollar of value added in designing shoes by workers in Laborland is ________
A) $0.25 B) $0.50 C) $2 D) $4
A change in the level of the supply of money
A) increases the long-run values of the interest rate and real output. B) decreases the long-run values of the interest rate and real output. C) has no effect on the long-run values of the interest rate, but may affect real output. D) has no effect on the long-run values of real output, but may affect the interest rate. E) has no effect on the long-run values of the interest rate and real output.
Which of the following statements best describes the perspective of many mainstream economists?
a. Many mainstream economists take a Keynesian perspective, emphasizing the importance of aggregate demand, for the long run, and a neoclassical perspective, emphasizing the importance of aggregate supply, for the short run. b. Many mainstream economists take a Keynesian perspective, emphasizing the importance of aggregate demand, for the short run, and a neoclassical perspective, emphasizing the importance of aggregate supply, for the long run. c. Many mainstream economists take a neoclassical perspective, emphasizing the importance of aggregate demand, for both the short and long run. d. Many mainstream economists take a Keynesian perspective, emphasizing the importance of aggregate demand, for both the short and long run.
The first chief justice of the supreme court was
a. Locke b. Marshall c. Hobbes d. Jefferson e. John Adams