If an individual firm in a market is a price taker, then:
a. it faces a horizontal demand curve.
b. it is operating in a monopolistically competitive market.
c. it sells its product at the market price that is solely determined by the buyers.
d. it faces a positively sloped marginal revenue curve.
e. it faces significant barriers to exit from the market.
a
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If the U.S. demand for German goods increases, then
A. the U.S. current account deficit with Germany will improve. B. Germany will experience currency devaluation. C. the euro will appreciate in value against the U.S. dollar. D. the euro will depreciate in value against the U.S. dollar.
When the Fed makes an open market purchase, long-term real interest rates will ________, which will ________ GDP
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
_____________ is (are) the key factor in explaining the decline in death rates in the U.S. in the late 19th and early 20th century
a. Improved sanitation b. Improved medical treatments c. Urbanization d. A more varied and nutritious diet
What is the primary problem in comparing income inequality in the US with income inequality in other countries?