There is no trade-off between inflation and unemployment when expectations are ________ and policy changes are ________
A) adaptive; anticipated
B) adaptive; unanticipated
C) rational; anticipated
D) rational unanticipated
C
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Refer to the table below. The marginal benefit of the 6th unit of activity is:Units ofActivity TotalCostTotalBenefit0$0$01$2$122$6$223$12$304$20$365$30$406$42$427$56$43
A. $7 B. $1 C. $2 D. $4
Compared with a normal monopolist, an effective price-discriminating monopolist produces a:
A. smaller output at a lower profit. B. smaller output but at a larger profit. C. larger output but at a lower profit. D. larger output at a larger profit.
Perfectly competitive firms
A. are small relative to the size of the market. B. sell homogeneous products. C. are price takers. D. All of the above are correct.
Competition can be beneficial in the public sector because _____
a. it leads to governments going out of business b. comparison gives some clue as to whether a government is operating efficiently c. it eliminates a prisoners' dilemma problem d. a and c