Investing in additional education and _________ are more likely to result in accumulating sufficient personal wealth to be able to retire relatively comfortably, but these require effort, patience, and sacrifice.
a. accurately predicting the market
b. investing in gold and other precious metals
c. investing in random walk bonds
d. starting to save early in life
d. starting to save early in life
Investing in additional education and starting to save early in life are more likely to result in accumulating sufficient personal wealth to be able to retire relatively comfortably, but these requires effort, patience, and sacrifice.
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A firm lowers the price it charges. The firm's total revenue decreases. What can we conclude about the price elasticity of demand?
A) Demand is elastic. B) Demand is unit elastic. C) Demand is inelastic. D) Demand is perfectly elastic. E) Not enough information is given to conclude anything about price elasticity of demand.
In order to be able to price discriminate and maximize profit, a monopolist must be able to do all of the following EXCEPT
A) identify and separate different buyer types. B) sell a product that cannot be resold. C) identify competitors. D) determine the output where marginal revenue equals marginal cost.
To fight unemployment and close a recessionary gap, the Fed ______
A. stimulates aggregate demand by lowering the federal funds rate, which increases the quantity of money B. stimulates aggregate supply by lowering the federal funds rate, which increases potential GDP C. increase employment, which increases real GDP D. increases bank reserves, which banks use to make new loans to busi-nesses, which increases aggregate supply
Suppose that the price of butter is $3 per pound and the price of margarine is $2 per pound. If the price of butter rises to $3.90 and the price of margarine rises to $2.20, then the absolute price of butter has _______________ and the relative price of butter has _______________
A) risen; fallen B) fallen; risen C) risen; risen D) fallen; fallen