In monopolistic competition there are ________ barriers to entry, so therefore in the long run, economic profit ________
A) no; is substantial
B) no; equals zero
C) many; equals zero
D) many; is substantial
E) many; might be earned depending on the degree of product differentiation
B
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When measured as a share of the total federal budget, entitlement spending has doubled over the last 50 years
Indicate whether the statement is true or false
Along a curved line, the slope at the maximum
A) is greater than zero. B) is zero. C) is less than zero. D) may be greater than, less than, or equal to zero.
A hyperinflation occurs when
A) inflation persists for more than two years. B) inflation persists for more than five years. C) the inflation rate exceeds 50% per year. D) the inflation rate exceeds 50% per month
There are no indisputable principles of tax equity
a. True b. False