The demand curve for a monopolist’s product is also the monopolist’s
a. total revenue curve.
b. marginal revenue curve.
c. average revenue curve.
d. total profit curve.
c. average revenue curve.
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_____ has the primary responsibility for developing the early stages of the government's budget
a. The executive branch b. The Treasury Department c. The House of Representatives d. The Senate
Union membership declined during the 1920s due to:
a. failure of a number of strikes. b. increase in real wages left the labor force satisfied. c. firms' use of "yellow-dog" contracts. d. poor union leadership. e. All of the above.
Which of the following is not an example of De Beers Diamonds trying to increase consumer demand?
a. sending the marketing message that a diamond lasts forever b. ads that illustrate that a diamond should remain in the family and not be sold c. informing potential customers about how diamonds lose monetary value over time d. introducing the idea of the diamond engagement ring e. the "spirit ring" as a sign of independence
How does macroeconomics differ from microeconomics?
A. The study of the opportunity cost of nations versus the opportunity cost of individuals B. The underlying principles C. The use of abstractions and models D. The use of aggregate indicators over market resource allocation