The demand curve for a factor is that part of the MRP where marginal product is
a. rising.
b. falling.
c. positive.
d. negative.
b
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
Competition among sellers occurs
A) when marginal revenue equals marginal cost. B) when price equals marginal cost. C) when price equals marginal revenue. D) whenever sellers try to attract customers from one another.
A perfect price discriminating monopoly produces the same quantity of output as a ________
A) single-price monopoly but charges a higher price B) perfectly competitive market C) perfectly competitive firm D) perfectly competitive market but charges a lower price
A ____________ exchange rate policy is where the central bank will intervene as needed in the market to keep the currency value from moving rapidly in one direction.
a. soft peg b. floating c. hard peg d. defined