When a resource has a perfectly elastic supply curve
A) the amount of economic rent for the resource is determined by its supply.
B) the amount of economic rent for this resource is determined by demand for the resource.
C) there is no economic rent being earned by this resource.
D) the entire payment received by this resource is economic rent.
C
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Refer to the figure above. In equilibrium, this country consumes at point
A) B. B) C. C) D. D) E.
Which of the following statements regarding a monopolist is false?
A) The marginal revenue curve lies below the demand curve for the monopolist's output. B) Unlike a perfectly competitive firm, a monopolist faces little or no competition. C) The monopolist sets price equal to marginal cost to maximize profits. D) The monopolist may or may not earn positive economic profits.
Which of the following is not a basic monetary policy tool used by the Fed?
A. Deposit insurance B. The reserve requirement C. The discount rate D. The sale and purchase of Treasury bonds
In Macroland autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. The slope of the aggregate expenditures model line is
A. 0.75. B. 0.25. C. 320. D. 290.