Empirical studies indicate that the maximum amount of air pollution occurs ________ levels of real GDP per person.
A. at "middle-income"
B. at the lowest
C. equally at all
D. at the highest
Answer: A
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What do Keynesian economists believe that the expenditure multiplier is?
a. Less than one b. Equal to one c. Greater than one d. Can be greater or less than one
Which of the following is an accurate statement about monopolistic competition?
a. Competing firms often conduct retaliatory moves. b. Firms often act independently. c. Markets often have few competing firms. d. Firms often significantly influence the policy of competing firms.
The production possibility curve is bowed outward from the origin because of:
A. the law of increasing opportunity costs. B. the finite nature of the resource base. C. inefficiency. D. unemployment.
Figure 11.2Figure 11.2 shows demand and costs for a monopolistically competitive firm. In the long run we expect:
A. the firm's demand curve to shift to the right. B. the firm's marginal revenue curve to shift to the left. C. the firm's average cost curve to shift upward. D. the firm's marginal cost curve to shift downward.