A monopoly's output decision depends only on the shape of its marginal cost curve
Indicate whether the statement is true or false
False. The output decision depends on the shape of its marginal costs curve and demand curve.
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Which of the following changes does NOT shift the short-run aggregate supply curve?
A) an increase in the price level B) an increase in technology C) an increase in the quantity of capital D) an increase in the money wage rate
Disposable income is defined as
A) national income - transfers + taxes. B) national income + transfers + taxes. C) national income + transfers - taxes. D) national income - transfers - taxes.
Over the last 50 years, as a percentage of GDP, the current account deficit has been
A. fixed at zero. B. trending smaller. C. trending larger. D. roughly constant.
Based on Table 3.1, which country or countries has an absolute advantage and a comparative advantage in shoes?
A) Mexico has an absolute and comparative advantage in shoes. B) The United States has an absolute and comparative advantage in shoes. C) The United States has a comparative advantage, and Mexico has an absolute advantage in shoes. D) Mexico has a comparative advantage, and the United States has an absolute advantage in shoes.