In the long run a monopolistic competitor
A) set MR = MC.
B) produces where P = AC.
C) sets P > MC.
D) All of the above.
D
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Issuers of coupon bonds
A) make a single payment of principal when the bonds matures, but multiple payments of interest over the life of the bond. B) make a single payment of interest and principal. C) make multiple payments of principal, but a single payment of interest. D) make a single payment of principal at the time the bond is issued and multiple payments of interest over the life of the bond.
In which of the following cases does the benefit principle provide little guidance?
a. The benefits of the program are spread throughout the population. b. Gasoline taxes are used to fund highways. c. It is difficult to identify the beneficiaries of government programs. d. In cases a and c. e. In none of the above cases.
In the United States, the Phillips curve in the 1960s:
a. shifted upward dramatically. b. shifted upward moderately. c. remained stable. d. shifted downward moderately. e. shifted downward dramatically.
At the point where consumption equals disposable income, the average propensity to consume equals 1
a. True b. False Indicate whether the statement is true or false