A perfectly discriminating monopolist converts every dollar of producer surplus into economic profit
a. True
b. False
B
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Refer to the table above. What is the market supply of labor per week when the wage rate is $75?
A) 28 hours B) 50 hours C) 71 hours D) 94 hours
A currency appreciation will be most likely to
a. reduce net exports and therefore increase aggregate demand. b. raise net exports and therefore decrease aggregate demand. c. reduce net exports and therefore decrease aggregate demand. d. raise net exports and therefore increase aggregate demand.
This producer
A. is a perfect competitor.
B. is an imperfect competitor.
C. could be either a perfect or imperfect competitor.
GDP measures
A. the annual value of final goods and services produced by factors of production located within a national border. B. the value of all goods and services sold in a given country. C. the annual total value of all services produced by factors of production located within a national border. D. the annual value of goods and services produced by factors of production owned by companies headquartered in a given country.