If a monopolistically competitive firm is producing where MR = MC and price is greater than ATC, the firm is earning a profit.
Answer the following statement true (T) or false (F)
True
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A country's actual output ________ its potential output.
A. can only temporarily exceed B. is always be approximately equal to C. can never fall below D. can never exceed
"Near monies" are: a. included in the M1 definition of the money supply
b. highly liquid assets that are close substitutes for money. c. stocks, bonds, and real estate. d. U.S. notes and Federal Reserve notes.
According to the above figure, equilibrium is at point
A. C. B. D. C. E. D. B.
The present value of a future amount of money will be greater the:
A. greater the interest rate. B. greater the amount of time before the future payment is received. C. lower the interest rate. D. greater the rate of the expected rate of inflation.