The cost of reducing unemployment more rapidly by expansionary fiscal and monetary policies is a permanently higher inflation rate.
Answer the following statement true (T) or false (F)
True
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According to this Application, what was the approximate value of Wal-Mart's value added in 2014?
A) $115 billion B) $286 billion C) $374 billion D) $661 billion
A change in the price of a good causes: a. a change in the quantity demanded and therefore results in a movement along the given demand curve for the good. b. a change in demand and therefore results in a movement along the given demand curve for the good
c. a change in the quantity demanded and therefore results in a shift in the demand curve for the good. d. a change in demand and therefore results in a shift in the given demand curve for the good.
Consumer surplus
a. is the amount a buyer pays for a good minus the amount the buyer is willing to pay for it. b. is represented on a supply-demand graph by the area below the price and above the demand curve. c. measures the benefit sellers receive from participating in a market. d. measures the benefit buyers receive from participating in a market.
Oligopolists have more control over prices than monopolistic competitors because
A. they can legally collude whereas monopolistic competitors may not. B. their prices are always set by the government. C. with fewer competitors, they are able to monitor and determine their own prices much easier. D. since an oligopolist is the only competitor in the market, setting prices is no problem.