Which of the following is characteristic of a pure monopolist's demand curve?
A. Average revenue is less than price.
B. Its elasticity coefficient is 1 at all levels of output.
C. Price and marginal revenue are equal at all levels of output.
D. It is the same as the market demand curve.
Answer: D
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Which of the following is TRUE of the current account balance?
A) Monetary expansion has no effect on the current account balance. B) Monetary expansion decreases the current account balance. C) Fiscal expansion increases the current account balance. D) Fiscal expansion has no effect on the current account balance. E) Monetary expansion increases the current account balance.
The yardstick most often used to compare living standards is:
a. aggregate demand b. Gross National Product c. output per capital d. international investment