As compared to monopoly, a perfectly competitive market typically produces a(n) ______ quantity at a(n) _______ price.
a. higher, higher
b. higher, lower
c. lower, higher
d. lower, lower
e. identical, lower
c. lower, higher
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If the nominal interest rate is 0.6 percent and the rate of inflation is 2.9 percent in a given year, then what is the corresponding real rate of return?
A) 3.5 percent B) 2.3 percent C) -3.5 percent D) None of the above.
How does the United States compare to other advanced, industrialized economies on the issue of openness?
a. It is completely closed. b. It is one of the less open of them. c. It is about average in openness. d. It is one of the more open of them. e. It is the most open of them.
According to the Cost-Benefit Principle, you should go see the latest Star Wars movie with your friends this week-end if:
A. the benefits of seeing the movie are greater than the costs of seeing the movie. B. you have a free ticket. C. you can afford to go to the movies. D. you really like Star Wars.
When the price of nuclear missiles rises, this change is reflected in the CPI but not in the GDP deflator
a. True b. False Indicate whether the statement is true or false