In which of the following ways is a monopolistically competitive firm like a perfectly competitive firm?
A. Short-run economic profits are always positive.
B. Short-run economic profits may be positive, negative, or zero.
C. Long-run economic profits are negative.
D. Long-run economic profits are positive.
Answer: B
Economics
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Poorly timed discretionary policy can do more harm than good. Getting the timing right with fiscal policy is generally
A) far less difficult than with monetary policy. B) about the same difficulty as with monetary policy. C) less difficult than with monetary policy. D) more difficult than with monetary policy.
Economics