A country’s level of productivity determines its
A. productivity growth rate.
B. rate of population growth.
C. current standard of living.
D. future income potential.
Answer: C
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Government's use of eminent domain is a solution to
A) the problem of negative externalities. B) potential monopolization of a market. C) the holdout problem. D) the free-rider problem.
A monopoly's short-run supply curve is upward-sloping because of diminishing marginal returns.
a. true b. false
Which of the following is not an example of a monopolistically competitive market?
A) automobile producers B) supermarkets C) gas stations D) makers of women's clothing
Describe the characteristics of the short-run aggregate supply curve. Explain what happens to: (1) nominal wages; (2) employment; (3) output; (4) revenues; and, (5) profits as the price level increases from the full-employment level of output. Then explain what happens to these variables as the price level decreases from the full-employment-level of output.
What will be an ideal response?