A perfectly competitive firm with a random demand has an expected demand curve that is ________ its expected price.
A) exactly double
B) equal to
C) less than
D) greater than
B) equal to
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A notable and unique feature of the colonial monetary system was
a. the use of minted silver coins. b. the circulation of commodities as money. c. the use of a widely accepted paper currency. d. the development of checking accounts issued by private commercial banks.
Under rent control, landlords cease to be responsive to tenants' concerns about the quality of the housing because
a. with shortages and waiting lists, they have no incentive to maintain and improve their property. b. they become resigned to the fact that many of their apartments are going to be vacant at any given time. c. with rent control the government guarantees landlords a minimal level of profit. d. with rent control it becomes the government's responsibility to maintain rental housing.
Economists generally believe that policies such as reducing barriers to trade are likely to foster economic growth
a. True b. False Indicate whether the statement is true or false
The increase in the trade deficit in the 1980's reflected a decrease in national saving that is associated with an increase in the government budget deficit
a. True b. False Indicate whether the statement is true or false