For a given growth rate in aggregate supply, slower growth in aggregate demand will lead to lower inflation
a. True
b. False
Indicate whether the statement is true or false
True
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When production of a good results in an external cost, the unregulated competitive market equilibrium quantity is
A) the efficient level of output. B) greater than the efficient level of output. C) not zero but is less than the efficient level of output. D) unattainable. E) zero.
In the table above, the marginal product of the 5th worker is ________ units per week
A) 2 B) 5 C) 10 D) 19
Implicit collusion, where players do NOT have an explicit agreement
A) are strictly prohibited under antitrust laws. B) are not strictly prohibited under antitrust laws. C) results in cheating. D) maximizes total surplus in the market.
Insoul Inc has been granted a form of legal protection that prevents other firms from copying its original music compositions for commercial purposes. The legal restriction that Insoul Inc has been offered is a: a. trademark. b. subsidy
c. copyright. d. patent.