If the demand curve for a firm's output is P=100-Q, the total revenue curve will be
A. TR=100-2Q.
B. TR=100Q-Q2.
C. TR=P*Q.
D. TR=100Q-2Q2.
Answer: B
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Assuming all else equal, inflation can:
A) reduce the real interest rate, and increase the real wage rate. B) increase both the real interest rate and the real wage rate. C) increase the real interest rate, and reduce the real wage rate. D) reduce both the real interest rate and the real wage rate.
Which of the following statements about this graph is accurate?
a. MD2 has a lower RGDP than MD3
b. MD1 has a higher RGDP than MD2
c. MD3 has a lower price level than MD1.
d. MD1 has a higher price level than MD2.
Public choice theory emphasizes the role of self-interest in public decision-making.
Answer the following statement true (T) or false (F)
The basic coordinating mechanism in a free-market system is
A. the corporation. B. a central government authority. C. price. D. quantity.