Since the U.S. economy expanded rapidly from 1992 to 2000, it must be true that
a. fiscal contraction overwhelmed monetary expansion.
b. monetary expansion overwhelmed fiscal contraction.
c. monetary expansion exactly offset fiscal contraction.
d. monetary contraction overwhelmed fiscal expansion.
b
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Which of the following is ALWAYS true for a profit-maximizing single-price monopolist?
A) p > Mc B) MR = MC C) p= MR D) all of the choices are always true
What is the law of diminishing marginal utility?
What will be an ideal response?
Refer to Figure 15-4. What is the price charged for the profit-maximizing output level?
A) $13 B) $21 C) $27 D) $34
Which of the following is not a principal-agent relationship?
a. Adam and Gloria get married. b. Payless, Getless, Inc., hires a salesperson. c. Dixie hires a lawyer. d. Citizens elect a state senator. e. Opal gets her car repaired.