If there is currently an inflationary gap:
a. The price level will tend to rise.
b. Real output will tend to rise
c. Both a. and b. will occur.
d. None of the above will occur.
a
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The above figure shows the market for labor. The employer is a monopsony. The firm maximizes its profit by hiring
A) 800 hours of labor at a wage of $5 per hour. B) 600 hours of labor at a wage of $10 per hour. C) 400 hours of labor at a wage of $5 per hour. D) 200 hours of labor at a wage of $5 per hour.
Which of the following is true of marginal revenue?
a. Marginal revenue equals total revenue divided by quantity. b. Marginal revenue is the slope of the supply curve of a firm. c. Marginal revenue is the slope of the total cost curve when profit is maximized. d. Marginal revenue equals the change in total revenue due to an additional unit of output. e. Marginal revenue equals the income earned by selling stocks on the margin.
The output of goods and services produced in the United States has grown on average 3 percent per year since 1965
a. True b. False Indicate whether the statement is true or false
The three issues related to proposal design are:
A. flexibility, marketing, and distribution. B. flexibility, commitment, and marketing. C. commitment, distribution, and marketing. D. flexibility, commitment, and distribution.