Because monopolistically competitive firms cannot earn long-run economic profits, they do not have any degree of monopoly power.
Answer the following statement true (T) or false (F)
False
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The contention that tariffs should be imposed when a foreign government provides financial assistance to its producers is
A) a national defense concern. B) the infant industry argument. C) dumping. D) to counter foreign subsidies.
When Jason and Jacky use dollars to compare the market values of their cellphones, money is acting as a
A. unit of accounting. B. standard of deferred payment. C. store of value. D. medium of exchange.
Refer to the information in Figure 16.5 below to answer the question(s) that follow.
?Figure 16.5Figure 16.5 shows the marginal benefits of emitting pollution for the only two chemical companies in an industry, Alpha Chemicals and Beta Chemicals. Before any tax on pollution emissions is imposed, each company views pollution as being free.Refer to Figure 16.5. The government decides to impose a tax on pollution emissions to cut total emissions in this industry in half, and based on this decision it has set the tax at $100 per ton of emissions. Following the implementation of this tax, the total amount of pollution emitted in this industry will be ________
tons. A. 25 B. 50 C. 75 D. 100
Governments track the value of international transactions with ________.
A. the circular flow model B. aggregate demand C. the balance of trade D. the federal deficit