The world rate of population growth is closest to

In the long run, perfectly competitive firms make zero economic profit. This result is due mainly to the point that a perfectly competitive market has

A) few buyers and sellers. B) no barriers to entry and exit. C) price taking by the firms. D) firms with perfectly elastic market demand.

Suppose the central bank announces that it will pursue a monetary expansion in the current period and a monetary expansion in the future. Explain how the credibility of the central bank might influence the effectiveness of this monetary policy action and announcement of a future monetary policy action

What will be an ideal response?