For a monopoly firm,
a. price always exceeds average revenue.
b. price always exceeds marginal revenue.
c. any price-quantity combination will maximize profits.
d. All of the above are correct.
b
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If firms in a perfectly competitive market are incurring economic losses, then as time passes firms ________ and the market ________
A) enter; demand curve shifts leftward B) enter; supply curve shifts rightward C) exit; demand curve shifts leftward D) exit; supply curve shifts rightward E) exit; supply curve shifts leftward
The change in U.S. official reserves is equal to
A) borrowing from abroad plus the current account deficit. B) the current account balance plus the capital and financial account balance. C) the current account balance minus the capital and financial account balance. D) foreign investment in the United States minus U.S. investment abroad.
Tracking systems reduce classroom segregation
Indicate whether the statement is true or false
Use the following table to answer the next question.YearUnemployment Rate (%)Inflation Rate (%)14.03.024.52.535.02.045.53.056.04.5Based on this data, the Phillips curve is ________.
A. of indeterminate slope B. downward sloping C. vertical D. upward sloping