If all firms in a monopolistically competitive market are incurring losses, then eventually:
a. the demand for the products in the market will increase.
b. the supply of the products in the market will increase.
c. the price of the products in general will decline.
d. the cost of production will increase.
e. the firms will exit until the existing ones just break even.
e
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A complete accounting of the costs of the tax system would not include _____
a. compliance costs b. legislative costs c. administrative costs d. political costs
Suppose GDP for 2009 was $1,500, wages and salaries were $800, rent payments were $200, consumption was $1000 . and interest payments were $200 . What must the value of profits have been?
a. $200 b. $500 c. $0 d. $100 e. $300
In the opinion of many people, ________ is the main problem of international law.
Fill in the blank(s) with the appropriate word(s).
The extent of discrimination is
A. measured by the differences in incomes. B. the reason for two-thirds of the income differential between black male workers and white male workers. C. difficult to quantify and controversial. D. easily measured for each category of workers.