According to the graph shown, if the government decides to increase taxes, it is most likely at equilibrium:
A. A
B. B
C. C
D. D
D. D
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The figure above shows the situation facing Smart Digit, Inc, a firm in monopolistic competition that produces calculators. What is the firm's profit-maximizing price?
A) $12 B) $10 C) $8 D) $4
When unemployment is above its natural rate, the inflation rate will eventually
A) increase. B) become equal to the natural rate of unemployment. C) move to its natural rate. D) decrease.
When monetary policies result in a worsening of economic performance, the least likely explanation is ________
A) a political business cycle B) changes in one or more key structural parameters of the economy C) a policy-induced change in the expectations and behaviors of households and businesses D) faulty interpretation of incomplete and ambiguous economic data
Natural resources are:
A. not considered scarce because no one pays for them. B. rarely used in production. C. included in the category of resources called land. D. available in unlimited quantities.