Monopolistically competitive firms are like perfectly competitive firms in that they both sell homogeneous products.
Answer the following statement true (T) or false (F)
False
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________ in the domestic interest rate causes the demand for domestic assets to decrease and the domestic currency to ________, everything else held constant
A) An increase; appreciate B) An increase; depreciate C) A decrease; appreciate D) A decrease; depreciate
The textbook authors claim
A) diabetics don't need insulin. B) diabetics don't want insulin. C) diabetics face no substitutes for insulin. D) diabetics can't find insulin at a fair price. E) none of the above.
If producers incorrectly set the price of their product too low a:
A. shortage will result and consumers will bid the price down to equilibrium. B. surplus will result and excess goods in inventory will signal the producers to lower their prices. C. shortage will result and consumers will bid the price up to equilibrium. D. surplus will result and excess goods in inventory will signal the producers to restrict output until sales increase.
Which of the following would be a topic considered in the field of macroeconomics?
a. Studying the amazing recent growth of the Chinese economy. b. Studying the movement of US manufacturing firms to China. c. Studying the differences in wages between menand women in the United States. d. Studying the effect of rent controls on the housing market in New York City. e. Studying the impact of environmental regulations on the well-being of human populations.