Contractionary fiscal policy attempts to shift aggregate demand to the right
Indicate whether the statement is true or false
FALSE
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Refer to Figure 4-1. If the market price is $1.50, what is the consumer surplus on the second burrito?
A) $0.50 B) $1.00 C) $1.50 D) $3.50
Effective price discrimination will enable a perfectly competitive firm to earn positive economic profits in both the short run and the long run
Indicate whether the statement is true or false
The term "creative destruction" refers to
A. the effects of population growth on the environment. B. the process by which immigrants build a new life in their country of destination. C. the process by which new jobs are created and old ones destroyed. D. All of these are correct.
Hi Phi Sound Unlimited has a monopoly over the installation of surround sound systems. If Hi Phi Unlimited?s total revenue from installing 20 sound systems is $30,000 and its total revenue from installing 21 sound systems is $30,800, what is the marginal revenue of the twenty-first sound system?
A. -$1,500 B. -$700 C. $800 D. $1,467