A perfectly competitive firm is producing at the point where its marginal cost equals its marginal revenue. If the firm boosts its output, its total revenue will ________ and its profit will ________
A) rise; rise
B) rise; fall
C) fall; rise
D) fall; fall
B
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The price of iPhones has fallen dramatically. Which of the following is likely to happen?
A) The quantity of iPhones supplied will increase. B) The supply of iPhones will increase. C) The quantity of iPhones supplied will decrease. D) The supply of iPhones will decrease.
A bond purchaser bought a bond from which she receives $800 a year from the issuer. If the face value of the bond is __________ then the coupon rate is __________.
A. $10,000; 10 percent B. $8,000; 8 percent C. $10,000; 8 percent D. $8,000; 12 percent E. none of the above
Based on Table 9.1, the balance on the financial account is
A) +100. B) +200. C) 0. D) -100. E) -200.
If consumers suddenly became more optimistic ________
A) they would spend more at any given inflation rate B) planned expenditures would decline C) the aggregate demand curve would shift to the left D) all of the above E) none of the above