A monopolistically competitive firm ________
A) can increase price without losing all of its business
B) loses all of its business if it increases price slightly
C) faces a perfectly elastic demand curve
D) faces a perfectly inelastic demand curve
A
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An increase in the costs of production will cause the:
A. short-run aggregate supply curve to shift to the right. B. aggregate demand curve to shift to the right. C. short-run aggregate supply curve to shift to the left. D. long-run aggregate supply curve to shift to the left.
The money ____ equals 1 divided by the reserve requirement. The larger the reserve requirement, the ____ the money multiplier
a. supply; larger b. multiplier; larger c. supply; smaller d. multiplier; smaller
Which of the following is NOT one of the lags that makes timely fiscal policy difficult?
A. Business Cycle lag B. Recognition lag C. Legislative lag D. Implementation lag
Entrepreneurship is characterized by
a. the ability to visualize and undertake economically beneficial projects. b. originality and innovation. c. leadership and discovery. d. all of the above.