In the long run, which of the following conditions is true for a monopolistically competitive firm?
A. P > AC and MR = MC.
B. P = MC and MR > AC.
C. P = AC and MR = MC.
D. P > MR and P > AC.
Answer: C
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Studies by the U.S. Census Bureau have shown that
A) there is significant income mobility in the U.S. over time. B) families remain below the poverty line for an average of five years. C) income mobility in the U.S. is minimal. D) over half the people below the poverty line never move out of poverty.
Which of the following sets of outcomes is exhaustive?
A) win, lose, tie B) employed full-time, employed part-time, unemployed C) married, single, widowed D) All of the above.
Yoyo's Frozen Yogurt, Inc is thinking of building a new warehouse. They believe that this will give them $50,000 of additional revenue at the end of one year, $60,000 additional revenue at the end of two years, and $70,000 in additional revenue at the end of three years. If the interest rate is 5 percent, Yoyo would be willing to pay
a. $140,000, but not $150,000. b. $150,000, but not $160,000. c. $160,000, but not $170,000. d. $170,000, but not $180,000.
The government wants to encourage consumer spending through cutting income taxes. This is an example of
A. a fiscal policy. B. a supply-side policy. C. a monetary policy. D. an incomes policy.