An important result in long-run equilibrium in monopolistic competition is that the equilibrium point results in
A. price = MR.
B. price = ATC.
C. price is greater than ATC.
D. ATC = MC.
B. price = ATC.
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Which of the following changes would have the largest impact on the CPI?
A) a one percent increase in the cost of housing B) a one percent increase in the cost of transportation C) a one percent increase in the cost of medical care D) a one percent increase in the cost of education E) a one percent increase in the cost of apparel
In macroeconomics, we talk about:
A. consumption at a regionallevel. B. production of mostgoods in the economy. C. prices in one specific market. D. investment on a national level.
The horizontal and vertical axes of the Lorenz curve respectively measure:
a. total income and total expenditure as cumulative percentages. b. total income and total population as cumulative percentages. c. total population and total expenditure as cumulative percentages. d. total expenditure and total income as cumulative percentages. e. total population and total income as cumulative percentages.
When the demand for loanable funds rises, the amount of money borrowed will ___________.
A. rise B. decline C. be unchanged