Estimates of U.S. job gains and losses due to free trade agreements
A) show no change in jobs.
B) show clear gains in the number of jobs.
C) show clear losses in the number of jobs.
D) show mixed results, leading to no clear conclusion.
D
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In the circular flow model,
A) the government has no direct interaction with either households or firms. B) the government is represented as a separate market. C) the government buys goods and services from firms. D) goods and services are sold by households and purchased by firms. E) factor markets are where goods rather than services are bought and sold.
As long as the supply curve for a good is upward sloping and the demand curve is downward sloping, a sales tax imposed on sellers shifts the supply curve
A) leftward and definitely raises the equilibrium price. B) leftward and possibly raises the equilibrium price. C) rightward and possibly increases the equilibrium quantity. D) rightward and definitely decreases the equilibrium quantity.
Use Figure 13.1 above to help with the following question. Why is it true that at every level of output except the first unit, the monopolist's marginal revenue (MR) is below price
What will be an ideal response?
In the long-run, in a monopolistically competitive market:
a. marginal revenue is greater than average revenue. b. price equals marginal cost. c. price equals minimum average total cost. d. the firms earn positive economic profits. e. resources are inefficiently allocated .