Over the past few decades, Milton Friedman was the leading spokesman for
A. monetarism.
B. the rational expectations theory.
C. Keynesianism.
D. new classical theory.
Answer: A
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You're traveling in Ireland and are thinking about buying a new digital camera
You've decided you'd be willing to pay $125 for a new camera, but cameras in Ireland are all priced in euros. If the exchange rate is 0.85 euros per dollar, what's the highest price in euros you'd be willing to pay for a camera? A) 105 euros B) 106.25 euros C) 110.15 euros D) 147 euros
A firm sells in a competitive market in which price is $12 . Its marginal cost is 6 + .25Q. Determine the profit-maximizing level of output
Which of the following causes a shortage of a good?
a. a binding price floor b. a binding price ceiling c. a tax on the good d. None of the above is correct.
Why are perfectly competitive markets considered efficient?
What will be an ideal response?