Annual changes in the level of investment in the U.S. during the last 40 years have been
a. highly volatile
b. positive, moderate, and steady
c. positive, dramatic, and steady
d. close to zero, but the level has been high
e. slightly negative, that is, falling steadily, but still high relative to the levels of the four decades before the 1960s.
A
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Which of the following statements is true?
A) Command economies do a better job at maximizing social welfare in comparison to market economies. B) The incentive problem and the coordination problem lead to lower efficiency in market economies. C) Central planners in command economies have to make decisions that prices would have automatically made in market economies. D) Bringing economic agents together to trade is easier in command economies in comparison to market economies.
Which of the following statements best reflects a price-taking firm?
a. If the firm were to charge more than the going price, it would sell none of its goods. b. The firm has an incentive to charge less than the market price to earn higher revenue. c. The firm can sell only a limited amount of output at the market price before the market price will fall. d. Price-taking firms maximize profits by charging a price above marginal cost.