If the long-run aggregate supply curve is vertical, fiscal policy will have no effect on output.
Answer the following statement true (T) or false (F)
True
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After an increase in demand in a constant-cost industry, firms will find themselves with higher average cost curves
a. True b. False
An example of something that might be sold in the underground economy is:
A. lawn-mowing services. B. endangered animals. C. baby-sitting services. D. All of these could be exchanged in the underground economy.
Which of the following is not an example of a welfare program?
a. Supplemental Security Income (SSI) b. Temporary Assistance for Needy Families (TANF) c. food stamps d. minimum wage laws
The demand curve in its home market is P = 200 - Q; the demand curve in its foreign market is P = 160 - 2Q; and its marginal cost is a constant $20 per unit. What is the discriminating monopolist's profit in the foreign market?
a. $90 b. $110 c. $70 d. $35