Monopolistically competitive firms can earn large profits in the long run
a. True
b. False
Indicate whether the statement is true or false
False
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How does a network externality serve as a barrier to entry? Is this barrier surmountable? Explain
What will be an ideal response?
Which of the following formulas is used to find the cumulative increase in AD from a particular fiscal stimulus?
A. The multiplier × fiscal stimulus. B. Fiscal stimulus ÷ MPC. C. MPC × fiscal stimulus. D. Fiscal stimulus ÷ the multiplier.
Stimulus checks, lower interest rates, decrease in the reserve requirement and lower taxes are all examples of
A. Monetary Policy B. Fiscal Policy C. Contractionary Policy D. Expansionary Policy
Force that encourages people to start businesses and attempt to improve their material well-being
a. profit motive b. capitalism c. consumer sovereignty d. voluntary exchange