In a perfectly competitive market, a permanent decrease in demand initially brings a lower price, economic
A) loss, and entry into the market.
B) loss, and exit from the market.
C) profit, and entry into the market.
D) profit, and exit from the market.
B
Economics
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An example of a question that might be explored in microeconomics is to determine
A) the number of workers employed by Intel. B) savings by the household sector. C) why the U.S. economy has grown more rapidly than the Japanese economy. D) the total employment within the U.S. economy.
Economics
Which of the following groups believes that the economy can achieve full employment without inflation through tax reductions, lower resource prices, and deregulation?
a. Classical school. b. Keynesian school. c. Neo-Keynesian school. d. Rational expectations school. e. Supply-side school.
Economics