Compared to the perfect competitor, the monopolist is ______ efficient and charges a ______ price.
Fill in the blank(s) with the appropriate word(s).
less; higher
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The supply curve of loanable funds slopes up because
A) at higher bond prices more loanable funds will be supplied. B) higher interest rates reduce the inflation rate. C) an increase in the interest rate makes lenders more willing and able to supply more funds. D) a decrease in the interest rate makes lenders more willing and able to supply more funds.
The production function shifts upward as the capital stock increases
a. True b. False Indicate whether the statement is true or false
The gains from specific training in human capital tend to go to the
A. employing firm and not the individual. B. individual and not the employing firm. C. parents since they paid for the education in the first place. D. federal government in the form of higher taxes.
Answer the following questions true (T) or false (F)
1. The values of real GDP and real GNP are almost the same for the United States. 2. The values of real GDP and real GNP are almost the same in countries where a significant fraction of domestic production takes place in foreign-owned firms. 3. Disposable personal income is equal to personal income minus personal tax payments.