When the rate of cyclical unemployment is zero, the:
a. natural rate of unemployment must also be zero.
b. rate of frictional unemployment must be negative.
c. economy must have entered a recessionary stage.
d. Keynesian aggregate supply curve must be horizontal.
e. economy is considered to be at full employment.
e
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The government budget deficit, ________, is ________ when saving exceeds domestic investment
A) (T - G), created B) (T - G), partially financed C) (G - T), created D) (G - T), partially financed
If a monopoly firm sells to competitive distributors and the distributors have a constant marginal cost of $3 and they are charging the profit-maximizing retail price of $9, what is wholesale price of the product?
A) $3 B) $6 C) $12 D) $9
With allocative efficiency:
a. There is production of that particular mix of goods and services most wanted by society b. There is production of any particular mix of goods and services in the least costly way c. The available supplies of factors of production are fixed in both quantity and quality d. The state of technology, or methods used to produce output, do not change
If the total cost of producing 300 leather jackets is $400 and the total cost of producing 301 leather jackets is $435, what is the marginal cost of production at 300 leather jackets?
(A) $835 (B) $435 (C) $35 (D) $400