Innovation in the U.S. was spurred by:
a. a free high school education in the U.S.
b. an influx of capable immigrants
c. an inexpensive patent system
d. All of the above are correct.
d
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Suppose Acme and Mega produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
Suppose Acme and Mega decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price. If Mega cheats on the agreement by reducing its price to $1 and Acme matches the price cut, then if consumers are evenly split between the two firms, Acme's economic profit will be ________.
A. $100 B. $75 C. $150 D. $200
Refer to the table above. At what rate did the country grow between 2005 and 2006?
A) 15.95% B) 12.45% C) 18% D) 16.33%
A monopolistically competitive firm chooses
A) the price of the product it sells but market forces determine the quantity it will be able to sell. B) the price of the product it sells but the quantity of output to produce is agreed upon by all firms in the industry. C) both the quantity of output to produce and the price at which it will sell its output. D) the quantity of output to produce but the price of the product it sells is determined collectively by all firms in the industry.
When income taxes are included in the basic macroeconomic model, the value of the
a. inflationary effect is increased. b. multiplier is increased. c. multiplier is decreased. d. expenditure function is increased.