Figure 11-6
The profit-maximizing monopolist in Figure 11-6 will sell its output at
A. P1.
B. P2.
C. P3.
D. P4.
Answer: B
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If Table 12.2 represents all the investments available to the economy, the nominal interest rate is 2.5 percent and there is no inflation, what will be the level of investment in the economy?
A) $0 B) $200 C) $600 D) $900
An increase in aggregate demand causes an increase in ________ only in the short run, but causes an increase in ________ in both the short run and the long run
A) real GDP; real GDP B) real GDP; the price level C) the price level; real GDP D) the price level; the price level
The extent to which a firm is viewed by consumers as being a monopoly depends primarily on
a. how the government defines a monopoly b. whether they believe there are close substitutes for the good it produces c. the level of profits earned by the firm d. the difference between price and marginal cost of the good it produces e. the size of the firm
In a barter economy,
A) money trades for goods, goods trade for services, and services trade for money. B) goods and services trade for other goods and services. C) some goods are more readily accepted in exchange than others. D) making exchanges takes less time (on average) than in a money economy. E) b and c