The national debt
a. will be zero when the federal budget is balanced.
b. has been shrinking in the last 30 years.
c. is equal to the government's budget deficit.
d. can grow without negative economic effects.
e. is a flow measure while the deficit is a stock measure.
D
Economics
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In the monopolistic competition model
a. firms are price takers b. barriers to entry maintain some monopoly "rents" in the long run. c. one dominant firm acts as the monopolist that is followed by the fringe of competitors. d. none of these.
Economics
If marginal revenue exceeds marginal cost, profit maximizers should
a. reduce output until they are equal b. increase output until they are equal c. increase output until profits are zero d. decrease output unless profits are zero e. maintain current output
Economics