The range in which a duopoly's output falls is less than or equal to the output level in ________ and more than or equal to the output level in ________
A) monopolistic competition; monopoly
B) monopolistic competition; perfect competition
C) perfect competition; monopoly
D) monopoly; monopolistic competition
E) monopoly; perfect competition
C
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If the quantity of money demanded exceeds the quantity of money supplied, then
A) the quantity of nonmonetary assets demanded exceeds the quantity supplied. B) the quantity of nonmonetary assets supplied exceeds the quantity demanded. C) the quantity of nonmonetary assets demanded will still equal the quantity supplied, all else being equal. D) you can make no conclusions about the relative supply and demand of nonmonetary assets.
Between 1860 and 1890, both daily wages and annual earnings
a. fell slightly. b. stayed roughly the same. c. increased by 10%. d. increased by 50%.
The aggregate demand curve slopes:
A. downward, like individual supply curves. B. upward, like individual supply curves. C. downward, like individual demand curves. D. upward, like individual demand curves.
Under the George W. Bush Administration, federal income taxes were cut twice and defense spending boosted substantially. Taken together, these actions are likely to have
A. decreased aggregate demand. B. decreased aggregate supply. C. increased aggregate demand. D. increased aggregate supply.