In a monopoly
a. the industry has high barriers to entry
b. the industry has high barriers to exit
c. the industry has high barriers to entry and exit
d. the industry has no barriers to entry or exit
c
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Large current account deficits imply large financial account surpluses
Indicate whether the statement is true or false
The average fixed cost of a firm equal:
a. implicit costs divided by output. b. explicit costs divided by output. c. total cost minus variable cost. d. total cost minus total variable cost divided by output.
Suppose John is a conservative and the economy is in a recession. Which fiscal policy does he recommend?
a. increase taxes b. decrease taxes c. increase G spending d. decrease G spending e. increase the money supply
Under perfect capital mobility and fixed exchange rates, expansionary ________ is a futile attempt because the
A. fiscal policy; LM curve effectively is vertical. B. monetary policy; IS curve will shift to the left. C. monetary policy; LM curve effectively is the same as the FE curve. D. fiscal policy; interest rate does not change.