Which of the following is an example of government spending?
a. A state government investing in electric vehicles for its employees
b. A state government importing twice as much oil this year than it did the previous year
c. A public sector firm increasing its expenditure on advertisement
d. A publicly traded firm selling one-third of its shares
a
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If the saving rate increases, a country's growth rate of real GDP per hour of labor ________ and capital per hour of labor ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
If a monopoly is maximizing profits,
a. price will always be greater than the elasticity of demand. b. price will always equal marginal cost. c. price will always be greater than marginal cost. d. price will always equal marginal revenue.
Product differentiation causes the seller of a good to face what type of demand curve?
a. downward sloping b. vertical c. horizontal d. Any of the above could be correct since product differentiation does not affect the shape of the demand curve.
Which of the following is the best example of a firm operating in a monopolistically competitive market?
A. A Kansas wheat farmer. B. TGI Fridays, a family restaurant. C. U.S. Postal Service. D. Boeing, an aircraft manufacturer