In short-run equilibrium, the perfectly competitive firm of Figure 9-8 will earn a total economic profit of
a.
zero
b.
$950
c.
$825
d.
$1,425
e.
$575
b
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If the Fed promises to conduct a(n) ________ for several years, inflation expectation will be ________
A) contractionary fiscal policy; high B) expansionary monetary policy; high C) contractionary monetary policy; high D) expansionary fiscal policy; low
When graphing a demand curve for corn, we are showing the relationship between the quantity demanded of corn and the
A) money price of corn. B) relative price of corn. C) income effect. D) substitution effect.
In the figure above, originally the apartment rental market is in short-run and long-run equilibrium with a rent of $600 per month. Then the government imposes a rent ceiling of $500 per month. The rent ceiling leads to a
A) shortage of 1000 apartments. B) shortage of 2000 apartments. C) surplus of 1000 apartments. D) surplus of 2000 apartments.
Physical capital refers to stocks and bonds
Indicate whether the statement is true or false