The demand curve facing the firm in ____ is the same as the industry demand curve
a. pure competition
b. monopolistic competition
c. oligopoly
d. pure monopoly
e. none of the above
d
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Reserves borrowed at the federal funds rate are usually repaid ________.
A. in one year B. the next day C. at the end of the month D. in five years
Agraria specializes in the production of cotton. However, cotton manufacturers in Agraria are expecting the demand for its exports to fall sharply due to growing competition from a neighboring country
Assuming all else equal, which of the following is likely to happen in this case? A) The equilibrium unemployment in Agraria will fall. B) The equilibrium real wage in Agraria will rise. C) Investment expenditure in Agraria will rise. D) Consumption expenditure in Agraria will fall.
A sudden change in the normal behavior of inflation, unrelated to the nation's output gap, is called:
A. inflation inertia. B. long-run equilibrium. C. short-run equilibrium. D. an inflation shock.
Refer to the figure above. After the market changes from perfectly competitive to a monopoly:
A) the social surplus decreases. B) the market price decreases. C) the deadweight loss decreases. D) the consumer surplus increases.