If the supply of aisle seats and middle seats on an airplane is the same, but the demand for aisle seats is greater than the demand for middle seats, then the equilibrium price of aisle seats will be less than the equilibrium price of middle seats
Indicate whether the statement is true or false
False
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The United States has numerous antitrust laws on the books and numerous legal precedents on acceptable corporate behavior. Still, the true commitment to enforcement is measured by the
a. number of monopolies we sue b. number of monopolies we break up c. partiality of the federal judges d. willingness of industry to behave e. budget of the enforcement agencies
Which of the following explains why fluctuations in real GDP have become less volatile in the United States since 1950?
A) Services have become a smaller fraction of GDP since the 1950s. B) Unemployment insurance and other government transfer programs are more prevalent since the 1950s. C) The government has become more reluctant to intervene when real GDP declines and unemployment rises since the 1950s. D) both B and C
To find its profit-maximizing output level, a firm should operate where
A. AVC = MC. B. MC = MR. C. TFC = TVC. D. AFC = AVC.
When a change in the price level leads to a change in the quantity of net exports demanded, it is called the:
A) international trade effect. B) export effect. C) import effect. D) net export effect. E) interest rate effect.