Compared to a perfectly competitive firm, a monopolist:
a. charges a higher price.
b. produces lower output.
c. fails to achieve an efficient allocation of resources.
d. all of these.
d
Economics
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Long-term economic growth requires a permanent:
a. decline in the average price level. b. leftward shift of the vertical Phillips curve. c. rise in the natural rate of unemployment. d. leftward shift of the aggregate demand curve. e. rightward shift of the vertical aggregate supply curve.
Economics
Is faster economic growth unambiguously better?
a. No, because growth has an opportunity cost. b. No, because growth serves no useful purpose. c. Yes, because more goods and services are always better. d. Yes, because it expands the production possibilities of an economy. e. Uncertain-economic growth has no answer to this question.
Economics