The American Recovery and Reinvestment Act, a $787 billion package of tax benefits and spending programs aimed at reducing aggregate demand in the U.S economy
Indicate whether the statement is true or false
false
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The figure above shows the demand, marginal revenue, and marginal cost curves for Paul's Parrot pillows, a monopoly producer of pillows stuffed with parrot feathers
When Paul maximizes his profit, Paul produces ________ pillows per hour, and if the market was perfectly competitive, ________ pillows per hour would be produced. A) 0; 4,000 B) 3,000; 4,000 C) 4,000; 4,000 D) 3,000; 3,000 E) 0; 3,000
Refer to Table 19-20. Given the following information, calculate the rate of increase in the price level from 2015 to 2016
A) 8.6% B) 7.9% C) -7.9% D) -8.6%
Compared to the United States, over the last three decades unemployment in Western Europe is ________ and the rate of job creation is ________.
A. lower; slower B. higher; slower C. lower; faster D. higher; faster
Which of the following is a difference between a perfectly competitive market and a monopoly?
A) There are huge barriers to entry in a perfectly competitive market, while there are no barriers to entry in a monopoly. B) The sellers in a perfectly competitive market are price makers, while a seller in a monopoly market is a price taker. C) The equilibrium price in a perfectly competitive market exceeds marginal revenue, while the equilibrium price in a monopoly equals marginal revenue. D) The market demand curve faced by a perfectly competitive firm is horizontal, while the market demand curve in a monopoly is downward-sloping.