When jobs are outsourced,
A. Unemployment increases significantly.
B. Production possibilities expand.
C. Corporations lose money.
D. The economy begins to collapse.
Answer: B
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In a small town, Marilyn's Christmas Tree Lot has a monopoly on sales of Christmas trees. In order to increase her sales from 100 trees to 101 trees, she must drop the price of all of her trees from $20 to $19. What is the marginal revenue?
A) $2000 B) $20 C) $19 D) negative $81
Elasticity
A. deals with percentage changes in price and quantity demanded. B. employs percentage changes calculated in terms of average values of the prices and quantities at issue. C. is generally stated in absolute value. D. All of the responses are correct.
The more people try to save, the more national income falls and saving, in spite of people's efforts and desire to save more, remains unchanged. This phenomenon is known as the paradox of
a. saving b. denied investment c. thrift d. frustration e. intentions
The market interest rate in Alpha is 7 percent, and the market interest rate in Beta is 10 percent; the inflation rate in Alpha is 3 percent, and inflation rate in Beta is 8 percent. Which of the following statements is true?
A. The real interest rate is higher in Alpha, but the nominal interest rate is higher in Beta. B. The real interest rate is higher in Beta, but the nominal interest rate is higher in Alpha. C. Both the real and nominal interest rates are higher in Beta. D. Both the real and nominal interest rates are higher in Alpha.