From the beginning of the 1990s to the year 2000, investment spending as a share of U.S. GDP has tended to
A) decrease. B) remain the same. C) fluctuate wildly. D) increase.
D
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In the short run, a perfectly competitive firm's economic profits
A) must equal zero, that is, the firm earns a normal profit. B) must be positive. C) might be positive, negative (an economic loss), or zero (a normal profit). D) must be negative, that is the firm must incur an economic loss.
The change in quantity demanded derived from a change in price is
a. the movement along a demand curve b. the movement along a supply curve c. a shift in the demand curve d. a shift in the supply curve
A monopoly firm is charging the price the market will bear at a level of output where MC equals $6 and is increasing, MR equals $9, and average variable cost equals $5 . To maximize profits, the firm should: a. increase both output and price
b. increase output but decrease the price. c. decrease output and increase the price. d. decrease both output and price.
Keynesians believe that velocity of money is stable and predictable
Indicate whether the statement is true or false