Considering perfect competition, monopolistic competition, and monopoly, which of the market structures can have positive profits in the short run?
perfect competition
monopolistic competition
monopoly
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Which of the following are major influences on the expected profit from an investment?
I. technology advances II. stock market behavior III. accounting practices A) I only B) I and II C) I and III D) II and III
What are the likely effects of a sovereign debt crisis in terms of the government's ability to finance its debt?
What will be an ideal response?
Consider an economy in equilibrium, and assume no change in aggregate demand. An earthquake that destroys many factories across the country would result in a(n):
a. increase in the average price level and a decrease in real GDP. b. increase in the average price level and no change in real GDP. c. increase in the average price level and an increase in real GDP. d. decrease in the average price level and an increase in real GDP. e. decrease in the average price level and a decrease in real GDP.
In calculating the GDP national income accountants:
a) treat inventory changes as an adjustment to personal consumption expenditures. b) ignore inventories because they do not represent final goods. c) subtract increases in inventories or add decreases in inventories. d) add increases in inventories or subtract decreases in inventories.