In order to sell an additional unit of its product, a monopolist must decrease price on all units
a. True
b. False
A
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To correct for the social impact of pollution, the government should levy a per-unit tax
A) that is the same for all polluters regardless of their locations or sizes. B) according to the economic damage of the pollution. C) according to the business activity of the polluter. D) only to those polluters that can afford to pay for the tax.
Why do the perfectly competitive firms earn only normal profits in the long run?
a. Entry or exit is barred b. Firms produce identical products c. A large number of buyers and sellers exist in the market d. Aggregate demand remains constant e. There is free entry and exit of firms
Demand pull inflation occurs in the ______________ range of the aggregate supply curve.
Fill in the blank(s) with the appropriate word(s).
Changes in GDP in the medium run are determined primarily by
A) demand factors. B) supply factors. C) monetary policy. D) all of the above