Refer to Figure 12-5. If the market price is $20, what is the average profit at the profit-maximizing quantity?
A) $5 B) $6 C) $9 D) $20
A
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Keynesian economists believe that the government should do what during a downturn in the economy?
a. Increase government spending and decrease taxes b. Increase government spending and increase taxes c. Decrease government spending and decrease taxes d. Decrease government spending and increase taxes
For a large firm that produces and sells automobiles, which of the following costs would be a variable cost?
a. the unemployment insurance premium that the firm pays to the state of Missouri that is calculated based on the number of worker-hours that the firm uses b. the cost of the steel that is used in producing automobiles c. the cost of the electricity of running the machines on the factory floor d. All of the above are correct.
Centerville has 200 unemployed people. Of these 200 people, 35 are unemployed for two weeks before finding a new job, 55 are unemployed for four weeks before finding a new job, 30 are unemployed for six weeks before finding a new job, 15 are unemployed for 10 weeks before finding a new job, and 65 are unemployed for 15 weeks before finding a new job. Approximately what is the average spell of unemployment in Centerville?
A. 2 weeks B. 14 weeks C. 8 weeks D. 11 weeks E. 5 weeks
Capital gains tax cuts inevitably benefit
A. low-income workers. B. retired persons. C. workers in large cities. D. high-income stock owners.