For a resource in a perfectly competitive market, marginal revenue product is equal to the price of the resource
a. True
b. False
B
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A business cycle expansion increases income, causing money demand to ________ and interest rates to ________, everything else held constant
A) increase; increase B) increase; decrease C) decrease; decrease D) decrease; increase
Policy activists can point to the volatility of ________ of private aggregate demand to score points in arguing for discretionary countercyclical policy
A) the consumption segment B) the consumption and net export segments C) the investment and net export segments D) none of the segments
Refer to the above figures. If a positive externality that existed becomes corrected, price and quantity will become
A) P1 and Q1. B) P2 and Q2. C) P3 and Q3. D) P4 and Q4.
Whenever there is a surplus at a particular price, the quantity sold at that price will equal: a. the quantity demanded at that price
b. the quantity supplied minus the quantity demanded. c. the quantity supplied at that price. d. (quantity demanded plus quantity supplied)/2.