Studies by economists have tended to show that countries with more independent central banks have
A) lower unemployment. B) more inflation.
C) higher unemployment. D) less inflation.
D
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Refer to Figure 4-5. Suppose that instead of a price ceiling, the government imposed a price floor of R1. What is the area representing consumer surplus after the imposition of the price floor?
A) C + E B) B + C + D + E C) A+ B + D D) A
Which of the following statements concerning the short-run average cost curve of economic theory is true?
a. It is L-shaped b. It is ?-shaped c. It is ?-shaped d. It is ?-shaped e. It is M-shaped
“Peak pricing” can only work effectively if prices remain relatively low for scarce resources.
Answer the following statement true (T) or false (F)
If firms in an oligopoly agree to produce according to the monopoly outcome, they will produce the same level of output as they would produce in a Nash equilibrium
a. True b. False Indicate whether the statement is true or false