1) B. the quantities and prices of the resources that households supply.; 2) B. decrease; 3) B. to do so will maximize the firms' profits.; 4) A. surplus will increase quantity demanded and decrease quantity supplied.; 5) A. suggests that the supply of DVD players has increased.; 6) A. Realizing allocative efficiency implies that productive efficiency has been realized.; 7) B. the marginal products of successive workers must be sold at lower prices.; 8) B. not change its output.; 9) C. achieving productive efficiency.; 10)A. aircraft production; 11) C. unable to meet foreign competition, a U.S. watch manufacturer sells one of its branch plants; 12) C. are $1,250.; 13) B. increase the demand for construction workers.; 14) B. increases more rapidly than the general price level; 15) D. increasing the supply of labor.; ) C. move the economy downward along its existing investment demand curve. 35) A. lower interest rates, an expanded GDP, and depreciation of the dollar.; 36) D. banks can create money through the lending process; 37) D. Capital inflows into the United States.; 38)D. The peso should depreciate.; 39) C. The money value of gross domestic product.; 28) C. supply curve will shift rightward.; 29) D. real-balances effect; 30) D. usually is accompanied by declining real GDP.; 31) C. current output at base year prices.; 32) B. is designed to expand real GDP.; 33)B. calculate the number of years required for the price level to double.;) ; B. each seller supplies a negligible fraction of total supply.; 17) A. total revenue exceeds total cost by the greatest amount; 18) C. oligopoly; 19)B. advertising, product promotion, and changes in the real or perceived characteristics of a product.; 20) C. monopolists have considerable ability to control output and price.; 21) B. rent-seeking behavior; 22) D. an informal understanding.; 23) D. price would exceed both marginal cost and average total cost.; 24) D. a few firms producing either a differentiated or a homogeneous product; 25) B. price exceeds marginal cost.; 26) A. Oligopolists have little incentive to introduce costly new technology and produce new products when they currently are earning large economic profit using existing technology and selling existing products.; 27)C. produce a larger output than a nondiscriminating monopolist.
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