The process by which monopoly profits lead to technological progress in known as
A) economies of scale. B) destructive creation.
C) imperfect competition. D) creative destruction.
D
Economics
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If the price level falls and the money wage rate does not change, some firms ________ and there is ________
A) shut down; a leftward shift of the aggregate supply curve B) start up; a rightward shift of the aggregate supply curve C) start up; an increase in potential GDP D) shut down; a decrease in the quantity of real GDP supplied E) shut down; a decrease in potential GDP
Economics
If the interest rate is 5%, in one period the future value of $1 today is
A) $1.20. B) $1.05. C) 95 cents. D) 20 cents. E) 5 cents.
Economics