Refer to the below graph of the representative firm in monopolistic competition. The long-run equilibrium price and output for this firm will be:
A. A and C
B. B and D
C. A and D
D. B and C
C. A and D
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Which of the following was a component of the Freedom to Farm Act of 1996?
a. withholding of farm acreage from production b. shifting the food supply curve to the left c. fixed cash payments to farmers from 1996 to 2002 d. rewarding participating farmers by giving them some crops to sell e. reducing the cash amounts paid out as deficiency payments
Government programs aimed at stimulating personal savings:
A. increase welfare if people discount the future too heavily. B. decrease economic efficiency if people have impulse control problems. C. help mitigate regression to the mean in most cases. D. are designed to take advantage of the flaws in the availability heuristic.
In a country that produces only wine and guns, which of the following is least likely to lead to biased growth?
A. The technology used to produce guns improves while the technology used to produce wine does not change. B. The amount of usable land has increased substantially. C. The relaxation of migration laws has led to a huge influx of unskilled workers. D. The relative price of guns in the international market changes.
Refer to the graph shown. A sale of shekels by the Israeli government would shift the:
A. demand curve to the left and reduce the price of shekels. B. supply curve to the left and raise the price of shekels. C. demand curve to the right and raise the price of shekels. D. supply curve to the right and reduce the price of shekels.