Refer to Figure 22-4. Which of the following combinations of points illustrates changes in the Soviet Union's economy from 1950 to 1980?
A) B to D B) E to B C) B to E D) A to B to C
D
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The tables above show the marginal costs and benefits from production and consumption of paper. From this information we can see that there are
A) external costs of producing paper. B) external benefits of producing paper. C) no externalities in production of paper. D) external costs from consuming paper.
Use the information below to explain adjustments that move the economy to a long-run equilibrium. Assume that firms and workers have adaptive expectations
The current unemployment rate = 7%. The natural rate of unemployment = 5.5%. Last year's inflation rate = 5%. This year's inflation rate = 4%.
A profit-maximizing monopoly will never operate in the portion of the demand curve with MR equal to
A) 3. B) 2. C) 1. D) -1.
Firms have ________ over their ________ costs in the short run.
A. no control; fixed B. control; overhead C. no control; variable D. control; fixed