Suppose that to move more people off the wait list for organ donations, surgeons and hospitals are developing a market for organ swapping. This is an example of a macroeconomics topic
Indicate whether the statement is true or false
FALSE
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Purchasing power parity is the theory that, in the long run, exchange rates move to equalize
A) the relative purchasing power of currencies across countries. B) nominal interest rates across countries. C) real GDP across countries. D) corporate profits across countries.
Limits of special-interest contributions to national political campaigns
a. would reduce the extent of rent seeking b. would involve concentrated costs and concentrated benefits c. are a form of rational ignorance d. would heighten the advantage of incumbency e. would heighten the advantage of challengers
In a monopolistically competitive industry, the competitive element results from ____ and the monopoly element results from ____. a. product differentiation; substantial barriers to entry
b. a large number of firms and free entry; product differentiation. c. advertising; product differentiation. d. product differentiation; the small number of large producers.
In the long run, a profit-maximizing monopolistically competitive firm sells at a price that is:
A. equal to average total cost, but higher than marginal cost. B. equal to average total cost, but lower than marginal cost. C. equal to demand, but higher than average total cost and marginal cost. D. equal to marginal cost and marginal revenue.