The marginal revenue curve for a perfectly competitive firm will be downward sloping.
Answer the following statement true (T) or false (F)
False
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Fiscal policy to solve short-run economic problems supports the Keynesian notion of
A) there being no government role in the economy. B) the need for autocratic rule. C) an active government role in the economy. D) the long-run nature of the economy.
The ______ is a theory describing how a budget deficit reduces investment spending and long-term economic growth.
a. Fannie Mae effect b. upside down effect c. Dodd-Frank effect d. crowding-out effect
If the U.S. interest rate differential decreases, then in the foreign exchange market the
A) demand for dollars increases. B) quantity supplied of dollars decreases. C) supply of dollars increases. D) quantity supplied of dollars increases. E) supply of dollars decreases.
In reference to funding industrywide advertising, if the majority of managers free ride, which of the following is likely to occur?
A) The industrywide marginal benefit of advertising will fall below its marginal cost. B) The industry will maximize its joint profit. C) The industrywide marginal benefit of advertising will equal its marginal cost. D) The industrywide marginal benefit of advertising will exceed its marginal cost.