Ongoing inflation means the Fed must respond to

a. an upward-shifting AS curve
b. a downward-shifting AS curve
c. changing interest rate targets
d. a depression
e. a lower real interest rate


A

Economics

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Keith is a perfectly competitive carnation grower. The market price is $2 per dozen carnations. Keith's average total cost to grow carnations is $2.50 per dozen. In the long run, Keith will

A) raise his price to more than $2.50 per dozen carnations. B) raise his price to $2.50 per dozen carnations. C) exit the industry if the price and his costs do not change. D) incur an economic loss. E) continue to make an economic profit.

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In the figure above, the U.S. government's revenue from the tariff is ________

A) $64 million B) $32 million C) $128 million D) $48 million

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The economic profits of many monopoly firms are reduced as a result of

a. rent-seeking activity b. government regulation c. demand inducement d. rent-seeking activity and price floors e. both a. and b.

Economics

If an economy's exports are $600 billion and its imports are $750 billion, its net exports are

A) $1,550 billion B) $150 billion C) -$150 billion D) 1.07.

Economics