The incentive for new firms to enter into a perfectly competitive market is primarily the:
A) large number of existing firms in the market.
B) positive profits earned by the existing firms in the market.
C) high level of government intervention in the market.
D) large number of buyers in the market.
B
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Cost-push inflation can be started by
A) a decrease in the money wage rate. B) an increase in the money prices of raw materials. C) an increase in the quantity of money. D) an increase in government expenditure on goods and services. E) a decrease in government expenditure on goods and services.
In the United States in 2014, the percentage of people without any form of health insurance was about
A) 10%. B) 29%. C) 64%. D) 83%.
When the LM curve is vertical,
A) fiscal policy has no impact on equilibrium income. B) fiscal policy has no impact on the equilibrium interest rate. C) the economy is at full employment. D) monetary policy has no impact on equilibrium income.
In the long run, all costs are fixed costs
a. True b. False Indicate whether the statement is true or false