When no economic growth occurs in an economy, the growth rate trend line is horizontal
Indicate whether the statement is true or false
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The above figure is for a firm in monopolistic competition. The diagram represents the short run rather than the long run because the
A) MR curve cuts the ATC curve from below. B) MR curve and the D curve do not coincide. C) firm is incurring an economic loss. D) firm is making an economic profit.
The Social Security program is financed directly from
A) voluntary contributions by the elderly. B) sales taxes on goods with inelastic demand. C) payroll taxes. D) poll taxes.
All cross elasticities are positive
Indicate whether the statement is true or false
An increase in the money supply must cause which of the following?
A) a leftward shift in the IS curve B) a reduction in the interest rate and ambiguous effects on investment C) an increase in investment and a rightward shift in the IS curve D) no change in the interest rate if investment is independent of the interest rate E) no change in output if investment is independent of the interest rate