Which of the following is a microeconomics topic?
a. the price of a new home
b. the inflation rate
c. the economy's growth rate
d. the unemployment rate
e. forecasts of recession
A
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In an industry where firms experience internal scale economies, the long-run cost of production will depend on
A) the size of the market. B) the size of the labor force. C) whether the country engages in intra-industry trade. D) individual firms' fixed costs. E) whether the country engages in inter-industry trade.
Among the 25 most developed countries in the world where does the United States rank in terms of recycling?
a. 5th b. 10th c. 18th d. 20th e. 25th
The product of nominal GDP and the GDP deflator equals the real GDP of a country
a. True b. False Indicate whether the statement is true or false
Suppose a monopolist has costs such that when output is 500 units per hour, average costs are $3. If the monopolist is regulated by a policy of average-cost pricing, the monopolist will charge a price of:
A. $3. B. $3 only if the quantity demanded is 500 units per hour at a price of $3. C. $3 only if the quantity demanded is greater than 500 units at a price of $3. D. $3 only if the quantity demanded is less than 500 units per hour at a price of $3.