Compounding:
A. is beneficial to savers, but costly to borrowers.
B. is beneficial to borrowers, but costly to savers.
C. is beneficial to borrowers and savers alike.
D. is costly to both borrowers and savers.
A. is beneficial to savers, but costly to borrowers.
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In the figure above, if pizza production is restricted to 5,000 pizzas a day, then marginal benefit ________ marginal cost, and ________ occurs
A) exceeds; overproduction B) exceeds; underproduction C) is below; overproduction D) is below; underproduction E) exceeds; efficient production
Tariffs tend to reduce the volume of imports by
A. Setting maximum allowable import limits. B. Making them more expensive to domestic consumers. C. Placing severe quality restrictions on imported goods. D. Reducing prices of domestically produced goods.
Figure 7.2 shows a monopolist's demand curve. The marginal revenue from selling the third unit is:
A. $6. B. $8. C. $10. D. $44.
What is the difference between an "increase in supply" and an "increase in quantity supplied"?
A) There is no difference between the two terms; they both refer to a shift of the supply curve. B) There is no difference between the two terms; they both refer to a movement along a given supply curve. C) An "increase in supply" means the supply curve has shifted to the right while an "increase in quantity supplied" means at any given price supply has increased. D) An "increase in supply" means the supply curve has shifted to the right while an "increase in quantity supplied" refers to a movement along a given supply curve in response to an increase in price.