For a monopolistically competitive firm
A) price equals marginal revenue at all levels of output.
B) price is less than marginal revenue at all levels of output.
C) price is greater than marginal revenue at all levels of output except for the first unit.
D) the demand curve is perfectly inelastic and marginal revenue is zero.
C
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Refer to the table above. The capital and financial account balance is
A) $190 billion. B) $200 billion. C) -$190 billion. D) -$200 billion. E) $1,900 billion.
Which of the following theories argues that people form the most accurate possible expectations about the future using all information available to them?
a. The theory of adaptive expectations b. The theory of rational expectations c. The theory of sticky wage d. The theory of absolute advantage
For an economy starting at potential output, a decrease in investment in the short run results in a(n):
A. increase in potential output. B. recessionary output gap. C. expansionary output gap. D. decrease in potential output.
A friend of yours receives a government voucher for an apartment in a public housing project. This apartment represents
A. the drop-in-the-bucket problem. B. a public good. C. a government-sponsored good. D. the free-rider problem.