In the long run, a profit-maximizing monopolist
a. earns zero economic profit.
b. produces the same amount as a perfectly competitive industry.
c. receives a higher price for his output than a perfectly competitive firm.
d. produces at the output level that minimizes his long-run average total cost.
c
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A supply shock jolts the economy from one Phillips curve to another
Indicate whether the statement is true or false
Which of the following financial instruments provides a buyer the right (but not the obligation) to purchase or sell a fixed amount of currency at a prearranged price, within a few days to a few years?
A. Currency option B. Letter of credit C. Currency swap D. Forward contract
Which of the following is NOT part of M1 but is included in M2?
A. cash B. currency C. traveler's checks D. small-denomination certificates of deposits
Ponzi schemes are investments in which:
A. funds are invested solely in high-risk foreign financial assets. B. all investors are guaranteed to lose money. C. investors are unknowingly paid returns from funds contributed by new investors. D. the profitability of the investments depends on whether the economy grows or is in recession.