In the long run, marginal cost must equal marginal revenue for a monopolistic competitive firm, but not at the minimum point of the long-run average cost curve
a. True
b. False
Indicate whether the statement is true or false
True
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The most significant factor enabling unions to negotiate increased wages for its members is likely: a. that unions increase the demand for labor
b. that unions decrease the supply of labor in the union sector. c. that unions increase the marginal product of labor. d. that unions increase the supply of labor in the union sector.
The unintended consequences of the federal deregulation of the interest paid depositors in the savings and loans was
A. increasing the interest rates in the national money market. B. increasing the amount of the loss on existing loans. C. allowing management to make riskier loans. D. affecting the interest rates on existing long term loans.
Three macroeconomic factors that affect the demand for money are:
A. capital, labor, and technology. B. globalization, skill-biased technological change, and labor mobility. C. the nominal interest rate, real income, and the price level. D. the nominal interest rate, capital, and labor.
The ideas of economist Arthur Laffer became the centerpiece for tax policy during the:
A. Ford administration. B. Clinton administration. C. Nixon administration. D. Reagan administration.