Answer Happy

1- The size of the spending multiplier depends on the level ofreal GDP.
Group of answer choices
True
False
2- In the short run, the monopolistic competitive firm willcharge a price equal to marginal cost.
Group of answer choices
True
False
3- Supply-side fiscal policies were advocated by theReagan administration.
Group of answer choices
True
False
4- Which of the following is true inlong-run equilibrium for both perfect competition and monopolisticcompetition?
Group of answer choices
Accounting profit is zero.
Marginal cost equals price.
Long-run average cost is at a minimum.
Economic profit is zero.
5- Oligopolies have few sellers and difficult entry.
Group of answer choices
True
False
6- Cartel members have an incentive to cheat on the cartelbecause:
Group of answer choices
the cartel does not maximize profits.
the cartel price is the competitive price.
each member's output quota is too high.
each member's MR is not equal to the cartel's MC.
the industry profit would be higher under competitiveconditions.