The most extensive indexing in the United States is in
a. interest payments on bonds or savings accounts.
b. government transfer payments, including Social Security benefits.
c. government contracts for military goods.
d. escalator clauses in wage and salary contracts.
b
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A competitive firm maximizes its profits (or minimizes is losses) by producing the quantity where the market price equals the firm's:
a. marginal cost. b. average total cost. c. average variable cost. d. average fixed cost.
Using typical estimates of the sacrifice ratio, how much output would likely be sacrificed to reduce inflation by 3 percent?
Which of the following is likely among the most concentrated industries in the United States?
A. household vacuum cleaners B. tobacco products C. soft drinks D. printing and publishing
Existing firms in the rental car industry will stay in the industry but will not want to undertake any investment projects other than to replace depreciating capital stock if the normal rate of return in the industry is ________ and the return that firms earn in this industry equals exactly ________.
A. 6%; 6% B. 4%; 7% C. 1%; 2% D. 12%; 9%