The United States has never experienced double-digit inflation
a. True
b. False
B
You might also like to view...
Foreign aid to a poor country might
A) improve its long run economic growth prospects. B) interfere with its domestic affairs. C) be allocated to useless projects and thereby reduce its growth rate. D) be used to keep its ruling party in power rather than spur economic growth. E) do any of the above.
Stable velocity of money is crucial component of the
a. monetarist model. b. Keynesian model. c. new Keynesian model. d. IS-LM model.
Inflation often bestows unearned income on
a. homeowners. b. lenders. c. creditors. d. fixed income receivers.
Using time-series data, the demand function for a profit-maximizing monopolist has been estimated asQd = 142,000 - 500P + 6M - 400PRwhere Qd is the amount sold, P is price, M is income, and PR is the price of a related good. The estimated values for M and PR in 2012 are $25,000 and $200, respectively. The short-run marginal cost curve for this firm has been estimated as:MC = 200 - 0.024Q + 0.000006Q2Total fixed cost is forecast to be $500,000 in 2016.What is the optimal price?
A. This is irrelevant since the firm will not produce in the short run. B. $520 C. $200 D. $408 E. $250