For a single-price monopoly, marginal revenue is ________ when demand is elastic and is ________ when demand is inelastic
A) negative; negative
B) negative; positive
C) positive; negative
D) positive; positive
C
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Between 1945 and 1950, federal expenditures
(a) dropped by two-fifths despite the Marshall Plan. (b) dropped by two-fifths because of dissipation of wartime expenditures. (c) increased by two-fifths because of increased spending in private consumer and business markets. (d) increased by two-fifths because of the Marshall Plan.
Appreciation of the dollar means that now it takes more dollars to buy one unit of foreign currency
a. True b. False Indicate whether the statement is true or false
If we consider the equation PAE = A + bY the part that corresponds to the MPC when we make simplifying assumptions is:
A. b B. Y C. A D. PAE
If the productivity of capital increases, the
a. supply curve of capital shifts to the right b. interest rate decreases c. firm's MRP of capital increases d. firm's MRP of capital decreases e. marginal factor cost decreases