In the long run, advertising by all firms in a monopolistically competitive industry
A) increases all firms' demand.
B) decreases all firms' demand.
C) lowers all firms' costs.
D) might increase or decrease the firms' prices.
E) lowers all firms' prices.
D
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The graph illustrates the market for bottled water. When the price exceeds the equilibrium price, the quantity demanded is ________ the quantity supplied and the price of the good will ________
A) less then; fall B) greater than; fall C) equal to; fall D) less than; rise E) greater than; rise
Suppose the real interest rate in the economy is 3% and the nominal interest rate is 6%, what is the current inflation rate?
a. 18% b. 9% c. 2% d. 3% e. 2.5%
Explain what economists mean when they say that the United States is a net debtor nation. Identify a potential problem and a positive aspect associated with this status.
What will be an ideal response?
Full employment means which of the following is zero?
A. structural unemployment B. cyclical unemployment C. frictional unemployment D. aggregate unemployment