A monopolistic competitor's demand curve tends to be more inelastic than a monopolist's demand curve
a. True
b. False
Indicate whether the statement is true or false
False
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During the 1990s, Japan experienced periods of deflation and very low nominal interest rates, approaching zero percent. Why would lenders of money agree to a nominal interest rate of almost zero?
What will be an ideal response?
The annual rate of growth of commodity output during the Civil War:
a. held constant from the previous decade. b. increased by roughly 25 percent. c. fell by more than 50 percent. d. None of the above is correct.
The lower the price, the lower the producer surplus, all else equal
a. True b. False Indicate whether the statement is true or false
Suppose that we are currently at point b in Figure 14.1. An increase in government spending will result in a:
A. shift in the AD curve from AD1 to AD2. B. shift in the AD curve from AD1 to AD0. C. movement from point b to point a. D. movement from point b to point c.