Unlike purely competitive firms, firms in monopolistic competition will operate with excess capacity even in long-run equilibrium
a. True
b. False
Indicate whether the statement is true or false
True
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A country reports that when real GDP is $13.0 trillion, aggregate planned expenditure is $14.0 trillion. When real GDP equals $13.0 trillion,
A) planned inventory changes by $1.0 trillion. B) planned inventory changes by -$1.0 trillion. C) both planned and unplanned inventory changes are -$1.0 trillion. D) unplanned inventory changes by -$1.0 trillion. E) unplanned inventory changes by $1.0 trillion.
If K = 3000, n = 0.015, and d = 0.082, then investment of ________ will hold (Y/N) constant
A) 291 B) 201 C) 164 D) 549
In a production possibilities table, the most-valued or optimal point for society is determined by:
A. the maximization of opportunity costs. B. a combination of products at the ends of the table. C. a combination of products at the midpoint of the table. D. the equality of marginal benefits and marginal costs.
The graphs below illustrate the market for a product on which an excise tax has been imposed by government. Refer to the below graph. How much of the excise tax per unit is shouldered by the buyers?
A. $3
B. $5
C. $6
D. $8