Imperfectly competitive firms are characterized by
a. horizontal demand curves.
b. standardized products.
c. a large number of small firms.
d. price making ability.
d
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When buyers and sellers optimize in a perfectly competitive market, ________
A) social surplus is maximized B) social surplus is minimized C) only consumer surplus is maximized D) only consumer surplus is minimized
Japan is generally considered an economy closed to foreign trade
a. True b. False
If the inflation rate was 10%, and the tax rate was 25%, and you deposited money in a bank account that paid 14%, what is after tax real interest rate? Show you work
If inflation is a threat, then the Fed will conduct monetary policy aimed at
A) increasing the interest rate which then will shift aggregate demand to the right. B) decreasing the interest rate which then will shift aggregate demand to the right. C) decreasing the interest rate which then will shift aggregate demand to the left. D) increasing the interest rate which then will shift aggregate demand to theleft.