A political leader suggesting that an economic downturn will be cushioned automatically is referring to
A. Monetary policy.
B. Discretionary Fiscal Policy.
C. Tax policy changes.
D. Nondiscretionary Fiscal Policy.
Answer: D
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Monopolistic competition is a market structure characterized by many small firms selling a homogeneous product.
Answer the following statement true (T) or false (F)
"Trade raises the economic well-being of a nation in the sense that the gains of the winners exceed the losses of the losers.". This statement is correct for a nation that exports manufactured goods, but it is not correct for a nation that imports manufactured goods
a. True b. False Indicate whether the statement is true or false
These are the cost and revenue curves associated with a firm.
If the firm in the graph were producing Q2 and charging P2, it:
A. represents the perfectly competitive outcome. B. is an outcome that eliminates deadweight loss. C. is an efficient outcome. D. All of these statements are true.
Which of the following examples accurately reflects a perfectly competitive market?
a. Boris knew it would be easy to enter the apple market but tough to leave it. b. Cynthia found entering the tomato market to be so difficult that she quit trying. c. Juanita easily got her farm out of the corn market when her profits fell. d. Nathan had to satisfy several legal requirements to exit the rye market.