Brand loyalty in monopolistically competitive markets manifests itself as
A) upward sloping marginal cost curves.
B) downward sloping demand curves.
C) downward sloping marginal cost curves.
D) upward sloping demand curves.
B
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The unregulated, single-price monopoly shown in the figure above makes a total economic profit of
A) $24. B) $16. C) $8. D) $4.
The Big Mac index:
A. is measured by The Economist. B. is a simple measure that indicates differing costs of living in different countries. C. converts the price of a Big Mac worldwide to dollars, and compares it to how much they cost in the U.S. D. All of these statements are true.
Balanced budget multiplier (= +5 - 4 = 1. Thus the impact on economic equilibrium is exactly equal to the original change in government spending (and taxes). So we can say that ?Y = ?G.**)
What will be an ideal response?
In the long run what primarily determines the natural rate of unemployment? In the long run what primarily determines the inflation rate? How does this relate to the classical dichotomy?