Which one of these firms would be a monopolistic competitor?
A. AT&T
B. A local phone company
C. A Tex-Mex restaurant in San Antonio, Texas
D. The only used car dealer within 300 miles of Livingston, Montana
C. A Tex-Mex restaurant in San Antonio, Texas
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A firm's demand for labor curve is also called its
A) marginal revenue product of labor curve. B) marginal benefit of labor curve. C) marginal factor cost of labor curve. D) marginal valuation curve.
According to the Monetarists, the money supply is a major factor determining
A) aggregate supply. B) aggregate demand. C) velocity. D) real wages.
If demand rises, what happens to equilibrium price and quantity?
Fill in the blank(s) with the appropriate word(s).
What effect does a contractionary monetary policy in the U.S. have on the foreign trade sector?
A. The lower value of the dollar will decrease imports and increase exports. B. The higher value of the dollar will decrease imports and increase exports. C. The higher value of the dollar will decrease exports and increase imports. D. The lower value of the dollar will decrease exports and increase imports.