The two economists associated with the development of the theory of monopolistic competition were
A) Joan Robinson and Edward Chamberlin.
B) David Hume and Adam Smith.
C) John Neville Keynes and John Maynard Keynes.
D) Carl Menger and Eugen Von Bohm-Bawerk.
Answer: A
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Examples of assets that are included in household wealth would be
a. stocks, bonds, and savings accounts. b. stocks, loans owed, and savings accounts. c. stocks, bonds, and mortgages. d. stocks, credit cards, and savings accounts.
What will happen to the exchange rate between the euro and the U.S. dollar if U.S. interest rates increase?
What will be an ideal response?
The effects of a per-unit tax imposed on sales of an industry's product would likely include
A) a lower product price at any amount of the product supplied. B) a leftward shift of the market supply curve for the product. C) a leftward movement along the market supply curve for the product. D) none of the above.
The marginal physical productivity of labor is defined as:
a. a firm's total output divided by total labor input. b. the extra output produced by employing one more unit of labor while allowing other inputs to vary. c. the extra output produced by employing one more unit of labor while holding other inputs constant. d. the extra output produced by employing one more unit of capital while holding labor input constant.