Compared to perfect competitors in the long run, oligopolists charge ______ prices and earn more ______.
Fill in the blank(s) with the appropriate word(s).
higher; profits
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A drop in velocity means that at any nominal GDP there is a desire to hold a ________ proportion of assets in money form, thus ________ shift in the LM curve
A) larger, a downward B) larger, an upward C) smaller, a downward D) smaller, an upward
In 2010, the poorest 20 percent of families in the United States population earned approximately ____ percent of the before-tax total income. (Fill in the blank.)
a. 1 b. 4 c. 9 d. 12
For this question, assume that expectations of productivity are slow to adjust. Further assume that A had been increasing by 6% a year. Now suppose that A only increases by 2% in period t. This slowdown in productivity growth will cause
A) the PS relation to shift up more than the WS relation. B) the WS relation to shift up more than the PS relation. C) the natural rate of unemployment to fall. D) the real wage to fall.
Over-fishing of common fishing grounds happens because fishing grounds are a common property and social and private incentive are the same
Indicate whether the statement is true or false