In the long run, the natural rate of unemployment depends primarily on the growth rate of the money supply
a. True
b. False
Indicate whether the statement is true or false
False
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West Coast Gas, Inc, is a natural gas supplier. The firm faces the demand schedule shown in the table above and cannot price discriminate
The company's fixed cost is $1,000 per month and its marginal cost is constant at $10 per thousand of cubic feet. The government imposes a marginal cost pricing rule on the company. a) What is the price of natural gas supplied by West Coast Gas? How many cubic feet does the company sell? What is the firm's economic profit per month? b) How does the regulation affect total surplus? c) Is the regulation in the social interest? Explain.
Collusion is easier to achieve and maintain in oligopoly when
a. there are many firms in the industry b. the firms' products are homogeneous c. the firms' cost structures are very different d. there are very weak barriers to entry e. the industry is located in the United States
When the interest rate falls,
a. the opportunity cost of holding money rises b. people shift out of holding interest-yielding asset holdings into holding money c. the quantity of money people will hold decreases d. investment spending decreases e. real GDP will decrease
Discuss the criticisms leveled against the Aid to Families with Dependent Children program