A monopoly's demand curve for labor
A) is below that of a competitive market.
B) is the same as that of a competitive market.
C) is above that of a competitive market.
D) equals p ? MPL.
A
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For a monopoly, for all units greater than one, the marginal revenue curve:
A. lies above the demand curve. B. lies below the average revenue curve. C. cannot be negative. D. All of these statements are true.
Behaving strategically:
A. is an essential part of game theory. B. means recognizing that the actions of others will affect the trade-offs you face, and acting accordingly. C. involves rational decision making. D. All of these statements are true.
Suppose the economy is at a short-run equilibrium with real GDP greater than potential GDP. Which of the following fiscal policies would decrease real GDP and the price level?
a) an increase in government expenditure b) a decrease in taxes c) an increase in taxes d) none of the above is correct
Which government sector has the ability to respond countercyclically to the economy?
A. Federal only. B. Local only. C. State only. D. Federal, state, and local.