Approximately what percentage is any initial movement in the level of output offset by automatic stabilizers?
a. 10 percent
b. 15 percent
c. 20 percent
d. 25 percent
a. 10 percent
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Political competition between candidates, especially attempts to paint one's opponent as being extreme, shows that _____
a. the way to be a successful politician is to fight dirty b. cyclical majorities will never exist c. there is an opportunity for third parties d. politicians implicitly accept the validity of the median voter model
For which of the following would the income effect of a price change be greatest?
a. ballpoint pens b. air travel to Australia c. chewing gum d. haircuts e. college textbooks
Under what circumstances would a monopolist price be as low as the price that would prevail in a perfectly competitive market?
What will be an ideal response?
A firm reaches the minimum efficient scale in the short run.
Answer the following statement true (T) or false (F)