Suppose some firms exit an industry characterized by monopolistic competition. We would expect the demand curve of a firm already in the industry to:
A. Shift to the left
B. Shift to the right
C. Become less elastic
D. Remain the same since entering firms serve other customers in the market
B. Shift to the right
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If an economy uses monetary policy as its stabilization tool, the real interest rate and thus ________-run economic welfare depend on that economy's ________ policy
A) short, monetary B) short, fiscal C) long, monetary D) long, fiscal
A payment arrangement between an attorney and a plaintiff, in which the plaintiff agrees to pay a certain lump-sum amount at the outset and no more in the future, regardless of how the case develops is called:
a. contingency fees. b. capitation fees. c. liquidation. d. one-time settlement.
It is not optimal to have equal incomes.
Answer the following statement true (T) or false (F)
The change in the total utility as a result of increasing consumption by one unit is known as
A. marginal utility. B. proportional utility. C. utils. D. average utility.