In response to a cost-reducing technological breakthrough in the production of its product, a profit-maximizing monopolist will normally:
A. Increase price and decrease production
B. Not change its level of output or price
C. Decrease the price it charges for its product
D. Increase its output and practice price discrimination
C. Decrease the price it charges for its product
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Say's Law can be succinctly restated as:
A. "In equilibrium, supply equals demand." B. "Supply creates its own demand." C. "The more things change, the more they stay the same." D. "If something cannot go on forever, it will stop."
The International Monetary Fund was created to facilitate the borrowing and lending of dollar reserves to central banks of the countries participating in the Bretton Wood System
Indicate whether the statement is true or false
An inflationary gap is the amount by which
A) total planned production exceeds total planned real expenditures in the long run. B) the short-run equilibrium level of nominal GDP is above the short-run level of real GDP. C) the short-run equilibrium level of nominal GDP is below the short-run level of real GDP. D) the short-run equilibrium level of real GDP is above the full-employment level of real GDP.
If the data are missing at random, then the missing data do not cause any statistical problems.?
Answer the following statement true (T) or false (F)