When a certain monopoly sets its price at $8 it sells 64 units. When the monopoly sets its price at $10 it sells 62 units. The marginal revenue for the firm over this range is
a. $22.
b. $27.
c. $54.
d. $108.
c
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Jack just told his boss that he thinks his boss is an idiot. It is likely that Jack will be experiencing ________ unemployment in the near future
A) cyclical B) structural C) frictional D) permanent
In general, an externality is created when
A) people are affected (other than by price) by a transaction which they were not part of. B) firms produce a product of low quality and consumers don't like it. C) firms have to pay for pollution the environment. D) the government subsidizes education.
Which of the following observations is true of nontransaction deposits?
a. depositor can use them directly as a means of payment b. they do not pay any interest c. depositor cannot directly write checks against them d. they generally pay lower interest rates than transaction deposits
When G is equal to tax revenue we have a ________ budget.
Fill in the blank(s) with the appropriate word(s).