For a monopoly, marginal revenue is often greater than the price it charges for its good
a. True
b. False
Indicate whether the statement is true or false
False
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In the quantity theory of money, the assumption that aggregate output is fixed is based on the view that ________
A) wages and prices are perfectly flexible in the long run B) the velocity of money is constant in the short run C) the demand for real money balances is proportional to income D) changes in the quantity of money lead to proportional changes in the price level E) none of the above
If the economy in the graph shown is currently at point B, and the government increases its spending, the likely outcome will be that the:
A. economy will increase its level of output.
B. economy will experience deflation.
C. economy's unemployment rate will increase.
D. All of these are likely to be true.
In general, game theory is the study of
a. how people behave in strategic situations. b. how people behave when the possible actions of other people are irrelevant. c. oligopolistic markets. d. all types of markets, including competitive markets, monopolistic markets, and oligopolistic markets.
People who would like to work full-time, but are able to find only part-time work are:
A. discouraged workers. B. considered out of the labor force. C. counted as employed. D. counted as unemployed.