Exports ________ society's total surplus because of the ________ in price and ________ in production
A) increase; rise; increase
B) increase; rise; decrease
C) decrease; fall; increase
D) decrease; fall; decrease
E) increase; fall; increase
A
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When a law freezes residential rents at their existing level for as long as the vacancy rate remains below some target level,
A) owners will be encouraged to supply additional rental units. B) rents will be frozen indefinitely, or at least until the law is changed. C) affordable housing to low-income people will be guaranteed. D) the vacancy rate will rise.
A perfectly competitive market is in equilibrium and 50,000 units are being produced. If four firms take over this market and a Cournot oligopoly is formed, what is the new total equilibrium quantity produced?
A) 50,000 B) 60,000 C) 62,500 D) 40,000
In the monopoly market structure, new firms
a. cannot profitably enter the industry, even in the long run b. may freely enter and leave the industry in both the short run and the long run c. may freely enter and leave the industry in the long run only d. may freely enter and leave the industry in the short run only e. have no incentive to enter the industry, even if economic profits are present
Which of the following are likely to increase investment and as a result, aggregate demand?
a. decreased demand for investment goods b. falling real interest rates c. rising real interest rates d. increased business taxes