If some monopolistically competitive firms exit their market after suffering short-run losses, the demand curves of remaining firms will shift to the right
Indicate whether the statement is true or false
TRUE
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A nation's nominal gross domestic product (GDP) ________.
A. is always some amount less than C + I + G + NX B. is the dollar value of all final output produced by its citizens, regardless of where they are living C. can be found by summing C + I + S + NX D. is the dollar value of all final output produced within the borders of the nation during a specific period of time
Any factor that shifts the supply curve inward and to the left and does not affect the demand curve will raise the equilibrium price and reduce the equilibrium quantity
a. True b. False Indicate whether the statement is true or false
Which of the following correctly expresses the relationship between the marginal utilities of two goods and marginal rate of substitution between the goods?
A. MRSXY = (MUY/MUX) B. MRSXY = (MUX/MUY) C. MRSXY = (U/?X) D. MRSXY = (U/?Y)
Ceteris paribus, when market interest rates ________, firms undertake ________ investment projects.
A. increase; more B. decrease; less C. increase; fewer D. decrease; no