The root cause of the hyperinflation that plagued Zimbabwe in the 2000s is ________
A) printing of too much money by the central bank
B) government expenditures greatly above revenues
C) outlawing of price increases on many commodities
D) allowing the use of foreign currencies
E) the issuance of a $100 billion bank note
B
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In the short run, the incidence of a sales tax is
a. wholly absorbed by the producer. b. shared between the consumer and the producer. c. deferred until the market is able to re-establish an equilibrium price. d. wholly absorbed by the consumer.
In a monopolistically competitive industry in long-run equilibrium
A. price equals marginal cost for each firm. B. each firm is making a normal profit. C. each firm is producing the output at which long-run average cost is at its minimum point. D. all of the above E. none of the above