The price faced by a perfectly competitive firm is
A. determined by market demand and supply.
B. the same as the market demand curve.
C. the same as the market supply curve.
D. the same as the firm's marginal cost curve.
A. determined by market demand and supply.
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When drawn against the real interest rate, the output supply curve unambiguously shifts to the right if
A) current capital decreases. B) current total factor productivity decreases. C) future total factor productivity decreases. D) current or future taxes increase.
The September 11 attacks no doubt worsened the slowdown that had already begun earlier in mid-2000
a. True b. False
In 2009, nominal GDP was $14,050 billion and M1 was $1,587 billion. Velocity was
a. 0.11. b. 8.85. c. 11.30. d. 14.25.
Janet bought flour and used it to bake bread she ate. ABC Bakery bought flour which it used to bake bread that customers purchased. In which case will the flour be counted as a final good?
a. Janet's purchase and ABC Bakery's purchase. b. ABC Bakery's purchase but not Janet's purchase. c. Janet's purchase but not ABC Bakery's purchase. d. Neither Janet's purchase nor ABC Bakery's purchase.