Refer to the diagram for a monopolistically competitive firm. Long-run equilibrium price will be:
A. above A.
B. EF.
C. A.
D. B.
C. A.
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Suppose a country's labor supply increases in a year while its capital stock remains constant. Which of the following is likely to happen in this case if output is a function of capital and total efficiency units of labor?
A) Its total output will increase. B) Its total output will decrease. C) Its output per capita will decrease. D) Its total output will remain constant.
During a(n) ________ many firms experience increased profits, which increases ________ and investment spending
A) expansion; cash flow B) recession; cash flow C) recession; business confidence D) expansion; government spending
Assume that the government one day decides to tax greens fees at all state golf courses. To the government's dismay, not only was the amount of tax collected small, but there was a 90 percent decline in golfing
What type of tax analysis did the government apparently rely upon when it imposed this tax? A) static tax analysis B) dynamic tax analysis C) transaction cost analysis D) ad hoc tax analysis
A bank with insufficient reserves can increase its reserves by
A) lending federal funds. B) calling in loans. C) buying short-term Treasury securities. D) buying municipal bonds.