A monthly interest rate of 1% is a compounded annual rate of :
A. 14.11%
B. 12.68%
C. 10.00%
D. 6.00%
Answer: B
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In an open economy, the quantity demanded of bikes in the domestic market is ________.
A. 20,000 B. 80,000 C. 50,000 D. 100,000
If marginal cost exceeds marginal revenue, a profit-maximizing monopolist will:
A. restrict output to increase the price even higher. B. raise price and expand output to increase profit. C. lower price and expand output to increase profit. D. attempt to maintain this position because it is consistent with profit maximization.
The government tries to protect the competitive economic system by passing and enforcing
A. antitrust laws. B. building codes and zoning laws. C. price controls. D. tariff legislation.
If social cost exceeds private cost, there is
A. a negative externality. B. a positive externality. C. an economic loss in the activity. D. underproduction of a good.