A competitive firm's short-run supply curve is perfectly elastic.
Answer the following statement true (T) or false (F)
False
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Nancy loves to landscape her yard, but her neighbor Tom places a low value on his landscaping. When Tom's grass is neglected and gets long, Nancy will mow for Tom. This is an example of: a. the fallacy of composition
b. a pollution tax. c. a private solution to a negative externality problem. d. how lazy Tom is.
The investment expenditure component of aggregate demand is also known as:
a. money spent in the stock market. b. spending to repair existing capital goods. c. spending used to enhance human capital. d. spending on new capital goods.
In the United States during the period from 1870 to 1940, the price level was most likely to
A. fluctuate. B. increase. C. decrease. D. trend generally upward.
Strategic complementarity refers to
a) two trade partners producing goods in which they have the greatest relative efficiency, and sharing the benefits through trade b) the increase in demand for one good when the price of another good falls c) a market failure in which individual decisions are not coordinated d) the relationship between capital and labor during a business cycle e) government subsidies for investment