In long-run monopolistically competitive equilibrium, there can be
A. economic profits, but not losses.
B. economic profits or losses.
C. neither economic profits nor losses.
D. no economic profits, but losses.
Answer: C
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Free trade is ________, because it ________ the size of the pie available to the economy.
A. efficient; decreases B. inefficient; decreases C. inefficient; increases D. efficient; increases
Refer to Table 20-17. Looking at the table above, real average hourly earnings in 2015 were
A) $3.67. B) $5.63. C) $10.24. D) $11.37.
Which of the following best describes a graph showing the supply and demand for foreign exchange?
a. The quantity of foreign exchange is on the horizontal axis and the quantity of the domestic currency is on the vertical axis. b. The quantity of the domestic currency is on the horizontal axis and the quantity of foreign exchange is on the vertical axis. c. The quantity of foreign exchange is on the horizontal axis and the price of foreign exchange in terms of the domestic currency is on the vertical axis. d. The quantity of foreign exchange is on the vertical axis and the price of foreign exchange in terms of the domestic currency is on the horizontal axis. e. The quantity of the domestic currency is on the horizontal axis and the price of foreign exchange in terms of dollars is on the vertical axis.
A baseball player who is currently batting .350 will increase his batting average on a day that he goes _____ at the plate
a. 1 for 4. b. 1 for 3. c. 2 for 5. d. 2 for 6.