The founding document of the European Economic Community, and the document that continues to provide the basis for the European Union is the
A) Treaty of Brussels.
B) Treaty of Rome.
C) Single European Treaty.
D) Maastricht Treaty.
B
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The equilibrium price charged by a monopolistic competitor in the long run after the entry of new firms is ________
A) higher than the equilibrium price charged by the firm before the entry of new firms B) lower than the equilibrium price charged by the firm before the entry of new firms C) lower than the equilibrium price charged by a perfectly competitive firm in the long run D) equal to the equilibrium price charged by the firm before the entry of new firms
An increase in the labor force shifts the production possibilities frontier inwards over time
Indicate whether the statement is true or false
The following is an example of risk aversion
a. those applying for a well-paid job tend to be the most qualified b. more reckless drivers opt for cars with fewer safety devices c. the contractor with the lowest bid for a is the most qualified d. Initial Public Offerings (IPOs) seek investors when prospects look poor
An expansionary fiscal policy can:
(a) Raise the national debt; (b) Decrease the national debt; (c) Have no effect on national debt; (d) None of above.