In late-2008, President Bush proposed that a trade pact with Chile be tied to
A. an overhaul of the U.S. Postal Service.
B. a bailout of the U.S. tobacco industry.
C. a rescue package for the U.S. auto industry.
D. negotiations with Colombian drug lords.
Answer: C
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Which of the following is not generally true about a profit-maximizing monopolist? a. The monopolist faces a perfectly elastic demand curve
b. The monopolist can potentially continue to earn economic profits in the long run. c. The monopolist charges a price that exceeds marginal cost. d. The monopolist chooses output where marginal revenue equals marginal cost.
If the marginal propensity to consume is 0.75, then the multiplier equals
A. 1/0.75. B. 1/(1 - 0.25). C. 1/(1 - 0.75). D. 0.75.
If there is an advancement in the technology used to produce a product, what is the likely effect it may have on the supply?
A. The company would not change its manufacturing. B. More people would be needed to produce the product. C. It would decrease the supply. D. It would increase the supply.
The figure above shows the housing market in the city of Appleville. A rent ceiling of $650 per month is imposed. With the rent ceiling, what is the maximum black market rent in Appleville?
A) $650 per month B) $700 per month C) $750 per month D) $800 per month