The Superfund was designed to clean up
a. the acid rain problem
b. air pollution from automobiles, buses, and trucks
c. water pollution from agricultural sources (i.e., pesticides)
d. water pollution from dumping raw sewage
e. toxic waste dumps
E
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Which of the following macroeconomic variables is procyclical and coincident with the business cycle?
A) Residential investment B) Nominal interest rates C) Industrial production D) Unemployment
Which of the following most closely approximates the conditions of a monopolistically competitive market?
a. The market for Grade A eggs, which is characterized by a large number of firms producing a homogeneous product. b. The restaurant industry, which is characterized by firms producing a differentiated product in a market with low entry barriers. c. Local cable television service, where a licensed supplier competes with firms offering satellite service. d. The market for jumbo aircraft, where one major domestic firm competes with one major foreign firm.
A COLA automatically raises the wage when the CPI rises
a. True b. False Indicate whether the statement is true or false
Why can't a monopolistic competitor earn economic profits in the long run?
What will be an ideal response?