Which demand curve would best represent a monopolistic competitor?
A. D1
B. D2
C. D3
D. None of these curves represent a monopolistic competitor.
B. D2
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Which one of the following does NOT contribute to economic growth?
A) increases in the price level B) the growth of capital and labor productivity C) the growth of the labor force D) the growth of the capital stock
The more profit a monopolist makes, the more inefficient is the monopoly outcome.
Answer the following statement true (T) or false (F)
One problem with unrestricted global capital movements is that capital suppliers may
a. have little information about conditions overseas b. react quickly to bad news regardless of economic fundamentals c. be interested in short-run gains rather than development objectives d. all of the above
Unlike minimum wage laws, wage subsidies
a. discourage firms from hiring the working poor. b. cause unemployment. c. help only wealthy workers. d. raise the living standards of the working poor without creating unemployment.