The following data show levels of planned variables for an economy. I g = Investment; S a = Saving after taxes; G = Government spending; T = Taxation; X = Exports; M = Imports. What is the equilibrium level of domestic output?
A. Choice A
B. Choice B
C. Choice C
D. Choice D
B. Choice B
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A monopolistically competitive firm can increase its profits beyond the long-run equilibrium break-even level by deliberately lowering its price to force some of its competitors out of the market
Indicate whether the statement is true or false
Using average cost pricing, regulators of a natural monopoly
a. force the firm's economic profit to zero b. maximize the firm's economic profit c. achieve Pareto efficiency d. set price equal to cost where the LRATC curve crosses the demand curve e. set price equal to marginal cost where the MC curve crosses the demand curve
Economics is a
A) hard science. B) physical science. C) natural science. D) social science.
(Last Word) Leverage in the financial system:
A. magnifies profits but reduces losses. B. magnifies both profits and losses. C. reduces profits but magnifies losses. D. reduces both profits and losses.