Tariffs are highest in which sector internationally?
A) Agriculture
B) Energy
C) Technology
D) Automobiles
A
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In the long run, a firm in monopolistic competition has its price equal to ________ and also has its price ________
A) marginal cost; exceeding its average total cost. B) marginal cost; equal to its average total cost C) average total cost; exceeds its marginal cost D) average total cost; less than its marginal cost
Which of the following is true of the typical relationship between marginal product (MP) and average product (AP)?
A) If MP is greater than AP, then AP is falling. B) The AP curve intersects the MP curve at minimum MP. C) The MP curve intersects the AP curve at maximum AP. D) If MP is less than AP, then AP is increasing.
Suppose there are 11 buyers and 11 sellers, each willing to buy or sell one unit of a good, with values {$14, $13, $12, $11, $10, $9, $8, $7, $6, $5, $4,}. Assume no transaction costs and a competitive market, what is the equilibrium price in this market?
a. 7 b. 8 c. 9 d. 10
Which of the following gives the Fed a credibility problem because the Fed may change its planned policies in light of new economic developments?
a. Adaptive expectations b. Time inconsistency c. Wage expectations d. Disinflation e. Rational expectations