In the Keynesian view, the main source of economic fluctuations is
A) interest rates.
B) investment.
C) consumption.
D) inflation.
B
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In the steady state of Solow's exogenous growth model, an increase in the growth rate of labor force
A) increases output per worker and increases capital per worker. B) increases output per worker and decreases capital per worker. C) decreases output per worker and increases capital per worker. D) decreases output per worker and decreases capital per worker.
One difference between a monopoly and a competitive firm is that
A) a monopoly is a price taker. B) a monopoly maximizes profit by setting marginal revenue equal to marginal cost. C) a monopoly faces a downward sloping demand curve. D) None of the above.
If equilibrium is present in a market,
a. there is generally either a shortage or a surplus. b. quantity demanded equals quantity supplied. c. quantity demanded exceeds quantity supplied. d. quantity supplied exceeds quantity demanded.
Refer to the information provided in Figure 4.3 below to answer the question(s) that follow.
Figure 4.3Refer to Figure 4.3. Retailers will have an excess supply of pencils if the government will not allow retailers to charge less than ________ for a pencil.
A. $0.50 B. $0.45 C. $0.40 D. the equilibrium price