Excess reserves equal total reserves plus required reserves
a. True
b. False
Indicate whether the statement is true or false
False
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If a firm in monopolistic competition is earning an economic profit,
A) it is in the long run. B) other firms can enter the market. C) it can do so because it is "monopolistic" and other firms will have a hard time competing with it. D) its average cost must exceed its marginal cost. E) The question errs because firms in monopolistic competition cannot earn an economic profit.
If there were no real wealth or interest rate effect, the aggregate demand curve would still be downward sloping
a. True b. False Indicate whether the statement is true or false
Which of the following is the clearest evidence of employment discrimination against minority employees?
a. the average wages of minority employees are lower than the average wages of whites with similar productivity characteristics. b. the average wage of minority workers is lower than the average wage of whites. c. the average hours worked by minority employees exceeds the hours worked by whites. d. the mean number of years of schooling of minority workers is lower than that of whites.
The short-run supply curve for a perfectly competitive firm is the portion of its
A) ATC curve above the MC curve. B) MC curve above the ATC curve. C) ATC curve below the MC curve. D) MC curve above its AVC curve.