Based on the graphic for perfect competition versus monopoly, the consumer surplus for monopoly is ______ the welfare for monopoly.
a. greater than
b. less than
c. equal to
d. the opposite of
b. less than
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All the following are examples of accounting costs, except
a. Interest payments on borrowed funds b. Costs paid to suppliers for product ingredients c. Cost of equity d. Depreciation expenses related to investments in buildings and equipment
The demand for labor is likely to increase when
a. the supply of the good it produces falls b. the demand for the good it produces rises c. the supply of the good it produces rises d. the demand for the good it produces falls e. the real wage rate rises
___________ markets like Hawaii and Florida tend to have more stable prices, while ___________-oriented destinations like Washington, D.C., and Chicago have more price volatility
Fill in the blank(s) with the appropriate word(s).
The large budget deficits of the U.S. government in the 2000s have not increased domestic interest rates because:
A. foreigners were willing to buy the increased U.S. debt. B. businesses cut back on investment spending by an equal amount. C. Americans increased their rate of saving. D. the value of the U.S. dollar rose.