For perfectly competitive firms, price
A. And marginal revenue are not related.
B. Is less than marginal revenue.
C. Is equal to marginal revenue.
D. Is greater than marginal revenue.
Answer: C
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Discounted cash flows shows that dollars received now are worth less than dollars received in the future.
Answer the following statement true (T) or false (F)
When all relevant information is used to forecast inflation, the resulting forecast is called
A) a rational expectation.
B) a natural expectation.
C) an expected forecast.
D) an expansionary expectation.
E) the expected expectation.
Senior citizens can buy movie tickets at a lower price than other people. This is an example of
A. price discrimination. B. age discrimination. C. market failure. D. demand discrimination.
Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower