Human capital consists of computers, tools and equipment owned by private individuals
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose k = 0.2. With a $200 billion increase in the money supply, the LM curve shifts
A) to the right by $40 billion. B) to the left by $160 billion. C) to the left by $200 billion. D) to the right by $1000 billion.
For a perfectly competitive firm with a known marginal cost and random demand, as the expected marginal revenue decreases, the profit-maximizing quantity ________.
A) decreases B) increases exponentially C) does not change D) increases
The monetarists totally reject the importance of changes in the money stock as determinants of changes in real GDP, the price level, and employment
a. True b. False Indicate whether the statement is true or false
Which of the following conditions distinguishes the monopolistic competitor from the monopolist?
a. profit-maximizing rule b. downward slope of demand curve c. entry of rivals d. short-run economic profits