Perfectly competitive firms respond to changing market conditions by varying their
a. price
b. output
c. market share
d. information
e. advertising campaigns
B
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The figure above shows that the deadweight loss from the government's policy is
A) about $350 million. B) about $25 million. C) about $50 million. D) about $100 million. E) zero.
In the 19th century hospitals had notorious reputations—questionable places to visit, risky places to stay. What advances changed all this?
a. Development of the germ theory of disease. b. Advances in medical technology. c. Availability of health insurance to pay the bills. d. All of the above.
Define the following terms and explain their importance to the study of macroeconomics
a. the relationship between interest rates and velocity b. lags in stabilization policy c. rules versus discretion
The volume of U.S. debt in absolute terms was the highest during the period:
a. 1995–2000. b. 1945–1950. c. 2010–2014. d. 1975–1980.