Negative net exports means that
What will be an ideal response?
The country buys more goods from other countries than it sells to other countries.
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A perfectly price discriminating monopolist charges each buyer:
A. more than his or her reservation price. B. exactly his or her marginal cost. C. the perfectly competitive equilibrium price. D. exactly his or her reservation price.
A virtuous cycle occurs
A) when a firm can attract enough buyers initially to increase a product's usefulness to attract even more buyers. B) when lobbyists petition members of Congress to grant a public franchise; the lobbyist then raise money for those Congress members who granted the franchise. C) when monopoly profits are used to create new products for additional monopoly profits. D) when a firm's sales volume reaches a level where the firm can take advantage of economies of scale; thereby reducing the price of the product to further boost its sales.
If a firm doubles the amount of labor it uses and triples the amount of capital it uses but its level of output less-than-triples as a result, what can be said about the firm's returns to scale?
A. This firm has increasing returns to scale. B. This firm has decreasing returns to scale. C. This firm has constant returns to scale. D. Nothing can be determined about this firm's returns to scale based on the information given.
If the economy is experiencing less than full-employment, the Keynesian model recommends that the government
a. do nothing to stimulate the economy. b. undertake expansionary fiscal policy to stimulate aggregate demand. c. undertake expansionary fiscal policy to stimulate aggregate supply. d. balance the budget to stimulate aggregate demand.