In a period of inflation real interest rates will be greater than nominal interest rates
a. True
b. False
Indicate whether the statement is true or false
False
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The quantity supplied of a good:
A) is inversely related to the price of the good. B) is determined irrespective of the market price. C) is always equal to the quantity demanded of the good. D) is the amount of the good that sellers are ready to supply at a given price.
In the figure above, the marginal cost of the second computer is
A) 2 television sets per computer. B) 3 television sets per computer. C) 5 television sets per computer. D) 30 television sets per computer.
Assume that a constant-cost, perfectly competitive market is initially in long-run equilibrium. After all long-run adjustments are made, which of the following would occur as a result of an increase in the price of a complement to this industry's product?
a. The market price would remain unchanged; the market quantity would rise. b. The market price would rise; the market quantity would fall. c. The market price would remain unchanged; the market quantity would fall. d. Both the market price and the market quantity would fall. e. Both the market price and the market quantity would rise.
A monopoly is MOST likely to be temporary if the monopoly power is derived from:
A) high barriers to entry. B) a lack of substitutes for the monopolist's product. C) economies of scale. D) technological change.