The schedules in the table give the marginal social benefit and marginal social cost of a DVD. If the marginal cost of producing a DVD increases by $4, then the efficient number of DVDs is ________ a week
A) 1
B) 2
C) 5
D) 4
B
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The relationship between money growth rates and inflation between 1982 and 2010 helps explain why, by the 1990s, most economists had
A. adopted the monetarist explanation of inflation. B. adopted a rules-only approach to monetary policy. C. become more convinced of the monetary causes of inflation. D. abandoned monetarism as the primary explanation of inflation.
Answer the question on the basis of the following information: In the economy above, real GDP for year 3 is:
A. $512. B. $428. C. $480. D. $691. AACSB:
Which of the following can lead to the existence of an oligopoly within a particular market?
a. A combination of economies of scale and market demand that creates a barrier to entry b. The government granting a patent for an invention to a single firm c. Lack of room in the market for a firm to raise prices by a single penny d. The market requiring more products than all firms in the market can produce together
From 1991 to 2007, the rate of inflation in the U.S. has been
a. zero. b. between zero and 2.1%. c. between 1.6% and 4.1%. d. between 3.2% and 7.2%.