The above table contains information about the nation of Syldavia. There are no income taxes or imports in this nation. The expenditure multiplier is equal to
A) 1.25. B) 10. C) 0.8. D) 2. E) 5.
E
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If MUx / Px = MUY / PY, then _____
a. the consumer should purchase the same quantity of X and Y b. the consumer should purchase less of X c. the consumer is maximizing utility d. the consumer should purchase more of Y e. the consumer is minimizing utility
As the number of firms in an oligopoly increases, the
a. price approaches marginal cost, and the quantity approaches the socially efficient level. b. price and quantity approach the monopoly levels. c. price effect exceeds the output effect. d. individual firms' profits increase.
How did people like Mark Zuckerberg of Facebook and the late Steve Jobs of Apple become so rich?
a. mostly by stealing from those who were less fortunate b. by acquiring more years of schooling than almost anyone else c. by obtaining large subsidies from powerful politicians d. by providing highly valued goods and services to consumers at attractive prices
Suppose the demand function is given by Qxd = 10Px0.9 Py0.5 M0.22 H. Then the cross-price elasticity between goods x and y is:
A. 0.22. B. 0.5. C. ?0.5. D. 0.9.