Unusually good weather that improves crop production and a major oil discovery are both examples of a beneficial supply shock
Indicate whether the statement is true or false
True
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The long-run equilibrium for a monopolistically competitive firm occurs ________
A) at the minimum point of the marginal cost curve B) at the minimum point of the average cost curve C) along the downward sloping portion of its average total cost curve D) along the upward sloping portion of its average total cost curve
In a world of rational expectations,
A) an anticipated increase in money supply leads immediately to higher nominal interest rates. B) an anticipated increase in money supply leads immediately to lower nominal interest rates. C) an unanticipated increase in money supply leads immediately to higher nominal interest rates. D) an unanticipated decrease in money supply leads immediately to lower nominal interest rates.
John Rawls, who developed the way of thinking called liberalism, argued that government policies should be aimed at maximizing the sum of utility of everyone in society
a. True b. False Indicate whether the statement is true or false
One reason why nations trade is because
A. trading provides opportunities to earn profits. B. the rate of interest is not the same in all countries. C. resources are not equally distributed to all nations. D. some nations like to build one thing while others like to build another.