A monopolistically competitive firm is one:
A. of a small number of firms that sell products that are close but not perfect substitutes.
B. of many firms that all sell the exact same product.
C. that behaves like a monopolist.
D. of many firms that sell products that are close but not perfect substitutes.
Answer: D
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If a goal of a nation's residents is to increase marginal productivity, they should increase
A) expenditures on education. B) the inheritance tax. C) exports. D) the marginal propensity to consume.
Fixed cost will decrease with increases in output
Indicate whether the statement is true or false
Refer to the data. If year 1 is the first year of this nation's existence and year 4 is the present year, the public debt as a percentage of GDP in year 4 is:
Answer the question using the following budget information for a hypothetical economy. Assume that all budget surpluses are used to pay down the public debt.
A. 7.5 percent.
B. 1.39 percent.
C. 2.5 percent.
D. 3.9 percent.
If the Fed increases the interest rate in the U.S.:
A) the demand curve for dollars will shift to the left. B) the demand curve for dollars will shift to the right. C) the supply curve of dollars will shift to the right. D) the real exchange rate of the U.S. will depreciate.