Suppose the economy is in long-run and short-run equilibrium. The Fed changes its policy by raising the difference between the discount rate and the federal funds rate. In the long run we would expect to observe
A) a higher real national income. B) a lower real national income.
C) a higher price level. D) a lower price level.
D
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The demand curve for a monopolistic competitor is based on the extent of its product differentiation and how many competitors it faces
a. True b. False Indicate whether the statement is true or false
The principle of comparative advantage states that total output is greatest when each product is made by the country that has the _____________.
Fill in the blank(s) with the appropriate word(s).
Refer to the accompanying table below. The average cost of 4 units of this activity is:Units of ActivityTotal CostTotal Benefit0$0$01$30$1002$40$1603$60$1904$100$2105$150$2206$210$225
A. $40 B. $30 C. $25 D. $20
When you choose the solution that has the greatest benefit for you
a. implicit favorite model b. bounded rationality model c. econological model d. none of the above