Recent work in neuroscience shows that different regions of the brain are involved in the valuation of the benefits and the costs of possible actions.
Answer the following statement true (T) or false (F)
True
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If gas prices suddenly change from $2 a gallon to $4 a gallon, larger, more remote stores with lower prices are ________ to have a(n) ________ in the number of customers.
A) likely; decrease B) not likely; decrease C) likely; increase D) not likely; cha
Which of the following is NOT characteristic of a perfectly competitive market?
A.) firms are price takers B.) a significant degree of brand loyalty for each firm C.) low barriers to entry D.) many firms
When a monopolist increases output, total revenue will:
A. decrease if the quantity effect outweighs the price effect. B. increase if the price effect outweighs the quantity effect. C. increase but it will have no price effect. D. increase if the quantity effect outweighs the price effect.
If expectations of inflation are greater than actual inflation, the short-run Phillips curve will eventually shift upward.
Answer the following statement true (T) or false (F)