A firm in a perfectly competitive industry can raise its price above the market price to increase revenue.
Answer the following statement true (T) or false (F)
False
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The federal government of the United States has ________
A) proven itself unable to significantly influence U.S. home ownership B) has been able to increase the volume of home ownership in the U.S. C) proven itself able to effectively control monetary policy D) has been unable to increase the volume of government spending since WWII
The United States has a comparative advantage in the production of wheat, and Haiti has a comparative advantage in the production of sugar. If both countries specialize based on the theory of comparative advantage
A. only the production of wheat will increase. B. only the consumption of both goods will increase. C. the production and consumption of both goods will increase. D. only the production of both goods will increase.
________ decreases aggregate supply
A) A rise in the money wage rate B) An increase in potential GDP C) A fall in the money wage rate D) An increase the quantity of capital E) A rise in the price level
Around the world, once-socialist countries have replaced central plans with
a. foreign aid b. budgets c. special interests d. markets e. capital equipment