When trying to move the economy out of recession, the Democratic Party is more likely than the Republican Party to focus on
A. supply-side policies.
B. demand-side policies.
C. regulatory policies.
D. demand-side and supply-side policies.
Answer: B
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What is the economic variable that guides the invisible hand?
What will be an ideal response?
What occurs if a price floor is set above the equilibrium price? What occurs if a price ceiling is set below the equilibrium price?
What will be an ideal response?
At a given output level, a monopolist earns a profit only if the
A. slope of its TR curve exceeds the slope of his or her TC curve. B. height of its MR curve exceeds the height of his or her MC curve. C. height of its demand curve exceeds the height of his or her MR curve. D. height of its demand curve exceeds the height of his or her ATC curve.
Compared to perfect competition, monopoly in the long run
a. restricts output. b. charges a higher price. c. produces at less than minimum average cost. d. All of the above are correct.