An increase in demand shifts the demand curve to the left
a. True
b. False
Indicate whether the statement is true or false
False
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The above figure shows a firm's total revenue line. The firm must be in a market with
A) perfect competition. B) monopolistic competition. C) monopoly. D) oligopoly.
Research by Reinhart and Rogoff indicate that most of the increase in national debt as a result of a financial crisis is due to
A) government bail outs of financial institutions. B) increase spending on social welfare programs. C) government stimulus programs. D) sharp declines in tax revenues.
According to agency theory, a financial crisis results from ________ that disrupts the flow of funds from lender-savers to borrower-spenders
A) an increase in asymmetric information B) a macroeconomic shock C) the existence of asymmetric information D) a decrease in saving
Cartels:
A. can effectively sustain large profits in the long run. B. are usually illegal. C. can act as if they are a single monopoly. D. All of these statements are true.