An increase in the market supply of clerks leads to an increase in the market wage rate for clerks.
Answer the following statement true (T) or false (F)
False
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Answer the following statement(s) true (T) or false (F)
1. A firm earns a positive economic profit when the market price exceeds its marginal cost. 2. As long as profits remain positive, a firm will want to increase the quantity produced. 3. Only variable costs are relevant to a firm's decision to shut down. 4. When a firm has chosen to shutdown it has exited the industry. 5. A competitive firm will exit the industry in the long run if the price of its product falls below its average cost.
The primary source of funds for the World Bank is
A) the world's wealthiest countries. B) the New York Stock Exchange. C) private financial markets. D) quota subscriptions.
If the economy is on the LM curve, but is to the right of the IS curve, aggregate output will ________ and the interest rate will ________
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
This monopolistic competitor is in the
A. short run making a profit.
B. short run taking a loss.
C. long run making a profit.
D. long run taking a loss.