In the above figure, the monopolistically competitive firm's profit-maximizing output is
A. 300 units.
B. 900 units.
C. 1,000 units.
D. 700 units.
Answer: D
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If there is a change in the U.S. endowment of factors of production, then there would be
A) shifts in just SRAS. B) a movement along the SRAS curve. C) a shift in both LRAS and SRAS. D) a shift in just LRAS.
The United States charges
A) the same tariff rates on goods from all countries. B) lower tariff rates on goods from countries with most favored nation status. C) low or zero tariffs on goods from certain developing countries. D) Both B and C.
At the equilibrium level of real GDP, which of the following is true?
a. Unplanned inventory investment is positive. b. Unplanned inventory investment is negative. c. Aggregate output equals aggregate expenditures. d. Aggregate output plus consumption spending equals aggregate expenditures.
Financial institutions:
A. can lower the information asymmetry involved with borrowing/lending. B. decrease the liquidity to savers. C. are required for all financial transactions. D. raise the level of transaction costs relating to borrowing/lending.