In a bilateral monopoly, the wage rate that is determined in the market
A) is equal to MFC.
B) is equal to MRP.
C) is indeterminate.
D) is the same as in a perfectly competitive market.
Answer: C
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A cash gift causes the budget line to:
A. shift to the right in a parallel fashion. B. rotate clockwise. C. shift to the left in a parallel fashion. D. None of the statements is correct.
If consumers become less confident and begin to borrow and spend less, what will happen in the dynamic AD/AS model?
A. The short-run aggregate supply curve will shift downward. B. The long-run aggregate supply curve will shift to the left. C. The aggregate demand curve will shift to the left. D. The aggregate demand curve will shift to the right.
One of the conclusions of A. C. Pigou was that
a. a system of mandatory controls is the only effective means to control pollution. b. a system of charges can be an effective means to control pollution. c. pollution will wither away if a socialist system is in place. d. pollution cannot be adequately addressed in a price system.
In addition to fiscal policy, the other main tool used to affect aggregate demand is
a. trade policy. b. industrial policy. c. planning policy. d. monetary policy.