Refer to Table 11.1. If exports increase by 20 (X = 100), what is the new equilibrium level of output?
A) 1,825 B) 2,425 C) 7,300 D) 9,700
A
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Refer to the figure above. If the capital stock is fixed at $300, what is the consumption in the economy?
A) $3,000 B) $4,000 C) $2,000 D) $5,000
Some argue that the best response to monopolies is no response at all, because:
A. they are too powerful to be dealt with effectively. B. no one can ever decide which monopolies to regulate. C. the creation of regulation may be too difficult. D. left unchecked, all monopolies eventually shut down.
Firms in industries that have competitors but do not face so much competition that they are price takers are operating in either a(n)
a. oligopoly or perfectly competitive market. b. oligopoly or monopoly market. c. oligopoly or monopolistically competitive market. d. monopoly or monopolistically competitive market.
When the economy is operating at a point where aggregate demand equals long-run aggregate supply, it must be true that:
A. the economy is in long-run equilibrium. B. aggregate demand also equals short-run aggregate supply. C. prices and expected prices are the same. D. All of these are true.