Changes in the output of a perfectly competitive firm, without any change in the price of the product, will change the firm's
a. total revenue.
b. marginal revenue.
c. average revenue.
d. All of the above are correct.
a
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In recent years, which of the following has been negative?
A) net exports of goods and services B) investment C) wages D) government expenditure on goods and services E) consumption expenditure
The Federal Trade Commission was established in 1914 to
A) regulate trade of public goods. B) promote competition in interstate commerce. C) investigate unfair competitive practices. D) prevent non-price competition.
When you see a commercial on TV asking you to "look for the union label," the union is trying to
A) increase worker productivity. B) increase the demand for nonunion goods. C) increase the demand for union goods. D) decrease the demand for nonunion goods.
When the growth rates of actual and potential GDP diverge, they usually diverge because
a. actual GDP growth equals potential GDP growth. b. actual GDP growth falls below potential GDP growth. c. potential GDP growth rates fall below actual GDP growth rates. d. potential GDP growth rates fluctuate while actual GDP growth rates remain stable.