In reality, the long-run supply curve tends to be:
A. perfectly elastic.
B. perfectly inelastic.
C. upward sloping.
D. downward sloping.
C. upward sloping.
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Compared to the situation before international trade, after the United States exports a good production in the United States ________ and consumption in the United States ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
If a Cournot duopolist announced that it will double its output,
A) it becomes the leader. B) the other firm does not view the announcement as credible. C) the other firm will shut down. D) the other firm will double output also.
For the most part, differences in wealth do reflect current labor market discrimination
Indicate whether the statement is true or false
When a consumer is impatient, his indifference curves for current and future consumption
a. are flatter than the budget line at the endowment point. b. must be straight lines. c. have absolute slopes less than 1 along the 45° line. d. have absolute slopes greater than 1 along the 45° line.