Assume that all of the inputs used in a particular perfectly competitive industry can be increased without bidding up their prices. The long run supply curve for that industry will be:
a. vertical
b. upward sloping.
c. horizontal.
d. downward sloping.
c
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Agraria is a small agricultural country that does not trade with the rest of the world. Based on this information, we can conclude that Agraria is a(n) ________ economy
A) closed B) communist C) command D) open
According to Keynes, the speculative demand for money pertains to money held in anticipation of a(n)
a. increase in bond prices. b. decrease in bond prices. c. rise in interest rates. d. fall in interest rates. e. both b and c
Refer to Figure 9.3. If the market is in equilibrium, total consumer and producer surplus is
A) $0. B) $4. C) $5. D) $600. E) $800.
In general, stocks are ________ risky than bonds, and have a ________ rate of return.
A. less; lower B. less; higher C. more; higher D. more; lower