A representative firm in monopolistic competition will tend to make economic profits:
A. or losses in the short run, but the firm will break even in the long run.
B. in the short run and long run.
C. or losses in the short run, but the firm will make economic profits in the long run.
D. and losses in the short run and long run.
Answer: A
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In the above figure, if the market is competitive and unregulated, output will be
A) zero. B) 50 units per week. C) 150 units per week. D) 250 units per week.
Which of the following is true? a. The quantity of money demanded varies inversely with the nominal rate of interest
b. Money market equilibrium occurs at that nominal interest rate where the quantity of money demanded equals the quantity of money supplied. c. Rising national income will shift the demand for money to the right, leading to a new higher equilibrium nominal interest rate. d. All of the above are true.
Cyclical unemployment
a. is short-term joblessness experienced by those who are between jobs b. is joblessness created by a mismatch between available jobs and workers' skills c. is joblessness related to regular seasonal events such as holidays or weather changes d. is joblessness caused entirely by microeconomic forces e. does not exist when the economy is at full employment
Refer to the information provided in Figure 34.2 below to answer the question(s) that follow.
Figure 34.2Refer to Figure 34.2. The dollar is currently at Point A. An appreciation of the dollar causes a movement to Point
A. E. B. B. C. C. D. D.