In the long run, in the model of monopolistic competition, for a typical firm, price is
a. above average cost but equal to marginal cost.
b. above marginal cost but equal to average cost.
c. above marginal cost.
d. equal to marginal cost and equal to or greater than average cost.
b
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The "velocity of circulation" refers to the
A) average speed with which the Fed increases or decreases the quantity of money. B) ratio between the quantity of money and the price level. C) average number of times in a year each dollar is used to buy goods and services. D) average number of times a dollar is deposited and withdrawn from a bank account. E) average speed with which the nominal interest rate changes when the inflation rate changes.
What is the difference between Chinese and Indian trade in services?
What will be an ideal response?
The Federal Reserve Banks are ________ institutions since they are owned by the ________
A) quasi-public; private commercial banks in the district where the Reserve Bank is located B) public; private commercial banks in the district where the Reserve Bank is located C) quasi-public; Board of Governors D) public; Board of Governors
The North American Free Trade Agreement affects trade between:
a. the United States, Cuba, and Brazil. b. the United States, Canada, and Mexico. c. the United States, Puerto Rico, and Cuba. d. Brazil, Bolivia, Peru, and Columbia. e. China and the United States.