What is true for monopoly that is not true for perfect competition?
a. The industry demand curve is downward sloping.
b. Profit is maximized where MR = MC.
c. The firm and the industry are exactly the same entity.
d. Positive economic profits may be earned in the short run.
c
Economics
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Why is GDP not a good measure of aggregate welfare?
A. GDP includes the value of intermediate goods B. trade between countries is not included in GDP C. GDP does not include the value of production done in the home D. the government calculates GDP
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Suppose an "emerging market" economy becomes attractive to foreign investors. What are the likely consequences for the economy's currency and, thus, the macroeconomy?
What will be an ideal response?
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