Which of the following may NOT serve as a possible chain reaction for either fiscal or monetary policy?
A) G? ? Y? ? C? ? Y? ? C?....
B) T? ? Y? ? C? ? Y? ? C?....
C) M? ? i? ? I? ? Y? ? C?....
D) M? ? i? ? I? ? Y? ? C?....
C
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Aggregate supply in the new classical aggregate supply
a. is vertical in the short-run. b. is horizontal in the short-run. c. is upward sloping in the short-run. d. None of the above
A quintile is 20% (one-fifth) of a population group
Indicate whether the statement is true or false
Suppose that, in the long run, a dairy's variable costs are VC = 2Q2 (where Q is the number of gallons of milk produced each day), its marginal cost is MC = 4Q and there is an avoidable fixed cost of $50 per day. In the long run there is free entry into the market. The long run market supply curve is:
A. vertical at 5 gallons per day. B. horizontal at $20 per gallon. C. horizontal at $50 per gallon. D. horizontal at $100 per gallon.
The legislation which made it illegal to monopolize a market was the:
A. Sherman Act. B. Clayton Act. C. Robinson-Patman Act. D. Celler-Kefauver Act.