A similarity between monopoly and perfect competition is that both types of firms are able to earn economic profits in the short run.

Answer the following statement true (T) or false (F)


True

Economics

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In Figure 3-7 above, the multiplier is

A) 2. B) 0.2. C) 5. D) 2.5.

Economics

In the above table, what is the marginal factor cost of the 4th worker?

A) $16 B) $30 C) $64 D) $22

Economics

A budget surplus can be used to cut taxes or pay off old debt.

Answer the following statement true (T) or false (F)

Economics

Starting from short-run equilibrium, wage rates rise. What is the effect on the price level and Real GDP in the short run?

A) The price level rises and Real GDP falls. B) The price level falls and Real GDP rises. C) The price level rises and Real GDP rises. D) The price level falls Real GDP falls.

Economics