In a open economy, aggregate expenditures are the sum of personal consumption, investment, government, and net export expenditures
Indicate whether the statement is true or false
TRUE
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If a union successfully negotiates for higher wages and benefits for airline pilots, what impact would this have on supply and demand in the market for passenger airline travel, assuming no other changes take place in the market?
What will be an ideal response?
Refer to the figure above. Calculate the total surplus after the government imposes a tariff of $1 per unit
A) $160 B) $240 C) $300 D) $315
The Clayton Act of 1914 prohibits ________ if it substantially lessens competition or creates a monopoly
A) people from serving on the board of directors of competing firms B) contracts that force other goods to be bought from the same firm C) both of the above D) neither of the above
Assume that a firm is able to cover its variable costs if it operates in the short run. If marginal cost equals $0 for all output levels, then the firm's profit-maximizing output level occurs where
a. total cost is minimized b. marginal revenue is maximized c. marginal revenue is minimized d. marginal revenue equals $0 e. total revenue is minimized