A monopolist will earn economic profits as long as his price exceeds:
a. marginal revenue.
b. average fixed cost.
c. average variable cost.
d. average total cost.
d
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
What are the effects of an increase in the population on potential GDP, the quantity of labor, the real wage rate, and potential GDP per hour of labor?
What will be an ideal response?
As of 2014, the poverty gap in the U.S. was roughly
A. $16 billion. B. $96 billion. C. $8.62 trillion. D. $862 billion.
The income consumption curve
A. is always a straight line. B. is the same as the Engle curve. C. always goes through the origin. D. has income on the vertical axis.