A monopolistic competitive firm in the long run sets price equal to the minimum point on the long-run average cost curve
a. True
b. False
Indicate whether the statement is true or false
False
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The "net export effect"
What will be an ideal response?
All of the following are possible explanations for the increase in U.S. government budget deficits as a percentage of GDP since 2000 EXCEPT
A. increases in government spending. B. increases in payments for entitlements. C. decreases in tax rates. D. increases in tax revenues.
If reserves in the banking system increase by $100, then checkable deposits will increase by $2,000 in the simple model of deposit creation when the required reserve ratio is
A) 0.01. B) 0.05. C) 0.10. D) 0.20.
The total earnings of a worker are represented by E = 150 + $12(24 ? L), where E is earnings and L is the number of hours of leisure. How much will the worker earn if he takes 16 hours of leisure per day?
A. $278 B. $342 C. $96 D. $246