An increase in the rate of inflation in the U.S. will increase the supply of dollars and decrease other countries' demand for dollars
Indicate whether the statement is true or false
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When production moves from the efficient quantity to a point of overproduction,
A) consumer surplus definitely increases. B) the sum of producer surplus and consumer surplus increases. C) there is a deadweight loss. D) consumers definitely lose and producers definitely gain. E) consumers definitely gain and producers definitely lose.
If Big City Appliances is in tacit collusion with three smaller appliance firms and Big City Appliances consistently makes price changes that the other three firms then also make, this is an example of ________ by Big City Appliances.
A) price leadership B) a meet-or-release clause C) a meet-the-competition clause D) a precommitment
The short-run impact of an unanticipated shift to a more restrictive monetary policy is most likely to be a reduction in
a. prices, while real output is unaffected. b. the rate of unemployment. c. real output. d. the size of the budget deficit.
If a single firm in a price-taker market lowers its price below the market equilibrium price,
a. it will get a larger share of the market. b. it will lose revenue without increasing the quantity it can sell. c. other firms will lower their prices. d. other firms will be driven out of the industry.