Poverty thresholds are adjusted ______ for inflation.
a. weekly
b. monthly
c. annually
d. each decade
c. annually
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With asymmetric information among consumers and positive search costs, a firm may
A) raise its price above the monopoly price. B) price at the monopoly level. C) price at the competitive level. D) None of the above.
Which group of economists believes that there is a natural rate of output that is relatively immune to short-run fluctuations in aggregate demand?
A. Supply-siders. B. Monetarists. C. Fiscal economists. D. Keynesians.
A perfectly competitive firm faces a horizontal demand curve because it is
A. a large firm in a small industry. B. one of few firms in the market. C. a price taker. D. a price maker.
This graph shows three different budget constraints: A, B, and C.
If we compare budget constraint A to budget constraint B in the graph shown, what can be said of the relative prices reflected in the two?
A. Because B is steeper, soda is relatively less expensive in A than in budget constraint B. B. Because B is flatter, soda is relatively more expensive in A than in budget constraint B. C. Because A is flatter, soda is relatively more expensive in A than in budget constraint B. D. Because A is steeper, soda is relatively less expensive in A than in budget constraint B.