Under monopolistic competition, a firm’s marginal revenue curve is
a. identical to the average revenue curve.
b. above the average revenue curve.
c. below the average revenue curve.
d. unrelated to the average revenue curve.
c. below the average revenue curve.
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If, when you consume another piece of candy, your marginal utility is zero, then
A) you want more candy. B) you have not yet reached the point of diminishing marginal utility. C) you should consume less candy. D) you have maximized your total utility from consuming candy.
During the Great Depression, as real interest rates rose, good credit risks were less likely to seek loans. This process illustrates the phenomenon of ________
A) adverse selection B) moral hazard C) poor monetary policy D) debt deflation
In the 1930s, some nations such as the United States and Britain abandoned their gold pegs by adopting ________, whereas other nations such as Germany and South American nations adopted ________.
A) floating exchange rates and open capital markets; fixed exchange rates and capital controls B) fixed exchange rates and open capital markets; floating exchange rates without capital controls C) fixed exchange rates and closed capital markets; floating exchange rates and closed capital markets D) floating exchange rates with closed capital markets; floating exchange rates and open capital markets
Define the following terms and explain their importance to the study of macroeconomics. a. Exchange rate b. Depreciation c. Devaluation d. Fixed exchange rates
What will be an ideal response?