The cost-revenue diagrams for a monopolist and a monopolistic competitor are similar except that the demand curve for the monopolistic competitor is flatter
a. True
b. False
Indicate whether the statement is true or false
True
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Movements in GDP
A) differ greatly from movements in GNP. B) do not differ greatly from movements in GNP. C) are not allowed to differ at all from movements in GNP by definition. D) need to be inflation adjusted in order to match movements in GNP. E) are not relevant to an examination of national income.
Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and current international transactions in the context of the Three-Sector-Model?
a. The quantity of real loanable funds per time period falls, and current international transactions become more positive (or less negative). b. There is not enough information to determine what happens to these two macroeconomic variables. c. The quantity of real loanable funds per time period rises, and current international transactions become more negative (or less positive). d. The quantity of real loanable funds per time period rises, and current international transactions remain the same. e. The quantity of real loanable funds per time period and current international transactions remain the same.
If the reserve ratio is 20 percent, then $100 of new reserves can generate
a. $60 of new money in the economy. b. $250 of new money in the economy. c. $500 of new money in the economy. d. $2,000 of new money in the economy.
A demand curve for concert tickets would show the
a. quality of people who want to buy these concert tickets. b. number of tickets the box office is willing to sell at various prices. c. number of people who need tickets. d. number of tickets that will be purchased at various prices.