If a firm in a perfectly competitive market triples the quantity of output sold, then total revenue will
a. more than triple.
b. less than triple.
c. exactly triple.
d. Any of the above may be true depending on the firm's labor productivity.
c
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In the Modern Keynesian Model the short run aggregate supply curve slopes upward. How could one explain the shape of the upward sloping? short-run aggregate supply curve by only focusing on the capital? input?
Which of the following is an example of a good produced under monopoly?
A) CDs B) Books C) Aerated drinks D) Patented software
The Herfindahl-Hirschman Index measures an industry's concentration of
A) employment. B) sales. C) profits. D) productive capital.
Under a flexible exchange rate system, if the quantity supplied of dollars is greater than the quantity demanded of dollars, there is a:
A) balance of payments deficit and the dollar would depreciate. B) balance of payments surplus and the dollar would depreciate. C) balance of payments deficit and the dollar would appreciate. D) balance of payments surplus and the dollar would appreciate.