The total benefit that a person receives from the consumption of goods and services is called
A) total utility.
B) marginal utility.
C) marginal cost.
D) opportunity cost.
A
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For movements along the long-run aggregate supply curve
A) potential GDP is dependent on the price level. B) the prices of goods and services change while the prices of productive resources hold steady. C) the price level and the money wage rate change by the same percentage. D) All of the above are correct.
Why is it that pure monopoly would not likely exist without government?
What will be an ideal response?
Which of these transactions results in an increase in M2?
A) certificate of deposit matures, adding $520 to your checking account B) withdrawal of $100 cash from your checking account C) depositing a bank loan of $400 into your savings account D) depositing a $300 paycheck into your savings account E) none of the above
If the smartphone market has only two firms, this market would be a
A. monopoly industry. B. monopolistically competitive industry. C. perfectly competitive industry. D. duopoly industry.