From 1860 to 1910,
(a) The total population grew faster than the workforce.
(b) National income grew faster than did total population.
(c) The workday increased.
(d) Foreign investment in the U.S. dropped continuously.
(b)
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Which of the following is true when long-run equilibrium conditions are present in price-taker and competitive price-searcher markets?
a. MR = ATC in both price-taker and competitive price-searcher markets. b. P = ATC in price-taker markets; P = MC in competitive price-searcher markets. c. P = MC in both price-taker and competitive price-searcher markets. d. P = ATC in both price-taker and competitive price-searcher markets.
The quantity of money demanded __________. Consumers and firms spend ___________.
Fill in the blank(s) with the appropriate word(s).
Suppose for a regulated monopoly that price equals minimum ATC but price exceeds MC. This means that:
A. both productive and allocative efficiency are being achieved. B. productive efficiency is being achieved, but not allocative efficiency. C. allocative efficiency is being achieved, but not productive efficiency. D. neither productive nor allocative efficiency is being achieved.
For each of the following changes, which equilibrium curve (IS, LM, or FE) is shifted? Draw the change in the underlying demand or supply curves (for example, money demand and supply for the LM curve) and show how the equilibrium curve changes.(a)Expected inflation increases.(b)The future marginal productivity of capital increases.(c)Labor supply decreases.(d)Future income declines.(e)There's a temporary beneficial supply shock.(f)The nominal interest rate on money rises.
What will be an ideal response?