Which of the following statements is correct?
a. The demand for capital is derived from the demands for outputs.
b. The demands for output are derived from the demand for capital.
c. The demand for capital is derived from the demand for rent.
d. The demand for rent is derived from the demand for capital.
a
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Can nominal GDP increase even when real GDP decreases?
A) No, it is not possible. B) Yes, but only if the price level decreases. C) Yes, but only if the price level increases. D) Yes, but only if the price level remains unchanged.
In the United States, health care spending on people ________ is six times greater than on people ________
A) under age 3; over age 65 B) over age 65; aged 18 to 24 C) aged 18 to 24; 25 to 44 D) over age 65; aged 25 to 44
Natural monopolies are the natural result of:
A. geographical happenstance. B. government regulations intended to encourage competition. C. competition in markets where economies of scale exist over the relevant range of output. D. fierce competition from firms in a market.
In the short run, a monopolistically competitive firm can earn
A) positive profits only. B) zero profits only. C) zero or positive profits only. D) zero, positive or negative profits.