The demand curve faced by the monopolist
A) has a constant price elasticity.
B) is the industry demand curve.
C) is identical to the firm's MR curve.
D) is identical to the firm's TR curve.
B
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High interest rates might ________ purchasing a house or car but at the same time high interest rates might ________ saving
A) discourage; encourage B) discourage; discourage C) encourage; encourage D) encourage; discourage
Money serves the following function(s):
(a) Medium of exchange (b) Store of value (c) Unit of account (d) All of the above
The marginal revenue product of land curve indicates
a. the additional output generated by an additional unit of land, other things constant b. the additional cost to the firm when it employs an additional unit of land, other things constant c. the additional profit the firm earns when it employs an additional unit of land, other things constant d. the additional revenue the firm earns when it employs an additional unit of land, other things constant e. the amount of land required to produce an additional unit of output, other things constant
According to adaptive expectations theory, which of the following would be the result of expansionary monetary and fiscal policies?
a. The economy self-corrects to the natural rate of unemployment. b. There is no long-run trade off between inflation and unemployment. c. The inflation rate rises. d. All of these.