Which of the following is true?
A) The price charged by a monopolistically competitive firm is equal to the price charged by a perfectly competitive firm in the long run.
B) The price charged by each firm in a monopolistically competitive market is equal in the long run.
C) The profit earned by a firm in a monopolistically competitive market is equal to the profit earned by a firm in a perfectly competitive market in the long run.
D) The profit earned by a firm in a monopolistically competitive market is equal to the profit earned by a monopolist in the long run.
C
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If the nominal interest rate falls, everything else remaining unchanged, ________
A) the real interest rate will rise B) the inflation rate will decrease C) the real interest rate will remain unchanged D) the real interest rate will fall
Research indicates that which one of the following factors likely gave rise to increased obesity in the U.S.?
(a) Advancements in modern cooking technology (b) Increased consumption of restaurant and fatty foods (c) A shift from exercise in leisure to labor (d) All of the above
A price ceiling will be binding only if it is set a. equal to the equilibrium price
b. above the equilibrium price. c. below the equilibrium price. d. either above or below the equilibrium price.
Suppose U.S. interest rates fall. This reduction in U.S. interest rates will cause which of the following to occur?
A. an increase in the value (appreciation) of the U.S. dollar B. an outflow of capital from the United States C. an inflow of capital to the United States D. no change in foreign investment in the United States