Food stamps and Medicaid are in-kind transfer programs
a. True
b. False
A
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Which of the following accurately explains why short-run profits lead to zero economic profits in the long run?
a. Short-run profits causes supply to decrease, thereby decreasing price and making it equal to ATC. b. Short-run profits causes supply to decrease, thereby increasing price and making it equal to ATC. c. Short-run profits causes supply to increase, thereby decreasing price and making it equal to ATC. d. Short-run profits causes supply to increase, thereby increasing price and making it equal to ATC.
Your textbook highlights a debate that has been going on for some years. The issue is whether there should be a corporation tax, given that corporations are nothing more than groups of people. Should there be a corporation tax? Why or why not?
What will be an ideal response?
The analysis used for oligopolistic firms is similar to that used for monopolies in all of the following ways except
A. price is higher than the minimum of the ATC curve. B. output is to the left of the minimum of the ATC curve. C. the action of rival firms must continually be taken into account. D. both types of firms have a higher price and a lower output than a perfect competitor.
Calculate the total change in spending because of an initial $100 increase in aggregate demand, given that the MPC = 0.60.
A. $100 decrease. B. $60 increase. C. $250 increase. D. $100 increase.