The demand curve for the output of an individual firm in monopolistic competition is
a. more elastic than the market demand curve.
b. less elastic than the market demand curve.
c. equivalent to the market demand curve.
d. perfectly elastic.
a. more elastic than the market demand curve.
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Which of the following is included in U.S. GDP?
i. the rental value of homes owned by U.S. citizens ii. the production of Suburban SUVs by GM in its plant in Mexico iii. tickets sold by U2 for concerts held in the United States A) ii only B) ii and iii C) i, ii and iii D) i and iii E) i only
Connie can clean windows in large office buildings at a cost of $1 per window. The market price for window-cleaning services is $3 per window. If Connie cleans 100 windows, her producer surplus is $200
a. True b. False Indicate whether the statement is true or false
Business-cycle macroeconomics involves changes in Real GDP around a ____________ LRAS curve, while economic-growth macroeconomics deals with increases in Real GDP resulting from a ______________ LRAS curve
A) rightward-shifting; fixed B) fixed; leftward shifting C) leftward shifting; fixed D) fixed; rightward-shifting
In the early 2000s, some argued that the Indian government impeded foreign investment with tariffs, investment caps, and tons of red tape. In terms of promoting or retarding economic growth, such policies:
A. increase growth because they keep people producing for the local market. B. decrease growth because they slow the growth of capital. C. increase growth because they stop exploitation by foreigners. D. decrease growth because they cause inflation.