Refer to the graph shown. If this monopolist were forced to set price equal to average total cost, it would charge a price of:
A. $0.90.
B. $0.30.
C. $0.75.
D. $0.15.
Answer: B
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The value of exports minus the value of imports is called the:
A. trade value. B. net budget balance. C. balance of trade. D. net trade value.
If both real GDP and nominal GDP of a country increased at the same rate in a particular year, which of the following is most likely to have taken place?
a. Output increased and the price level increased b. Output increased and the price level decreased c. Output decreased and the price level increased d. Output decreased and the price level decreased e. Output increased and the price level remained constant
Pete throws leftover bread onto his front lawn because he enjoys watching the pigeons feeding. His neighbor John is not happy about the pigeons, since they leave a mess on his property. This is an example of a nice gesture causing a
a. negative externality b. public good c. positive externaility d. third-party benefit e. free-rider outcome
Refer to Table C_6. Assuming MPC=0.75, the break-even level of disposable income=____. (Do not enter a $ sign. Include a negative sign, if a negative number)