In terms of aggregate demand and aggregate supply, the Great Depression can be viewed as a:
a. shift to the right of the aggregate demand curve.
b. shift to the left of the aggregate demand curve.
c. shift to the right of the aggregate supply curve.
d. shift to the left of the aggregate supply curve.
b
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Complaints are often made to the International Trade Commission concerning foreign "dumping" practices. These complaints typically claim that
A) U.S. firms are harmed by the unfair pricing of foreign exporters. B) foreign companies are charging exorbitant prices that are higher than the true value of the products. C) foreign companies are charging prices that are lower than prices they charge countries other than the U.S. D) U.S. consumers are harmed by the lack of quality control or health concerns in foreign countries. E) U.S. consumers cannot differentiate between the foreign and domestic goods.
What does a monopolist's demand curve for labor look like? How does it compare to the market demand curve for a competitive industry? What does the supply curve of labor to a monopolist look like? Explain
What will be an ideal response?
The principal objective of the Federal Reserve System is to
a. circulate coins and paper Federal Reserve Notes. b. subsidize the income of member banks. c. help stabilize the economy through monetary policy. d. make profits to remit to the Treasury Department.
Because a monopolistically competitive firm has some market power, in the long-run the price of its product exceeds its
a. average revenue. b. average total cost. c. marginal cost. d. None of the above is correct.