If a monopolistically competitive firm's marginal cost curve shifts upward, then the amount of output it produces
A) increases.
B) stays the same.
C) decreases.
D) could increase, decrease, or stay the same but more information is needed.
C
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Which of the following describes the reason why scarcity exists?
A. Governments make bad economic decisions. B. The gap between the rich and the poor is too wide. C. Wants exceed the resources available to satisfy them. D. There is too much unemployment.
The "allowable deficit" that causes no change in the debt-GDP ratio is equal to the ________ times ________
A) interest rate, outstanding national debt B) interest rate, nominal GDP C) rate of nominal GDP growth, outstanding national debt D) rate of nominal GDP growth, nominal GDP
How do the nominal exchange rate and the real exchange rate differ?
The graph shown demonstrates a tax on sellers. What is the amount of tax revenue being generated from the tax?
A. $310 B. $135 C. $80 D. $150