Political instability is a deterrent to long-term private investment
Indicate whether the statement is true or false
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Consider a monopolistically competitive industry which is in long-run equilibrium. Which of the following is TRUE?
A) All firms charge a price equal to average total cost. B) All firms charge a price equal to marginal cost. C) All firms earn positive economic profit. D) Demand, average total cost, and marginal cost all intersect.
Suppose the real money demand function is Md/P = 2400 + 0.2Y - 10,000 (r + ?e). Assume M = 4000, P = 2.0, ?e = .03, and Y = 5000. The real interest rate that clears the asset market is
A) 3%. B) 6%. C) 11%. D) 14%.
In the long run, in a competitive industry
a. economic profits are zero b. firms break even c. price equals average cost d. all of the above
Which of the following is most likely beyond the scope of economic analysis?
a. Family structure. b. Why some people contribute to charities. c. Why some people choose to vote. d. The actions of people who do what voices in their heads tell them to do.