The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment.
B. exogenous spending.
C. recessionary gaps.
D. expansionary gaps.
Answer: D
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Dose-response functions for environmental hazards
a. always have thresholds c. must arise from the origin b. are strictly linear d. none of the above
Within a monopolistically competitive industry
A) firms can freely enter and exit and economic profits are zero in the long run. B) firms can freely enter and exit and economic profits are greater than zero in the long run. C) there are some barriers to entry and exit and economic profits are zero in the long run. D) there are some barriers to entry and exit and economic profits are greater than zero in the long run.
Using the supply and demand equations for wheat, solve for the equilibrium price and quantity as functions of I and r
What will be an ideal response?
A price searcher is any firm that has no control over price and must accept the market price as given
a. True b. False