How many units should Harvey's Housewares produce?
a. 1 unit
b. 2 units
c. 3 units
d. Zero units, at these prices, the production should not start
c
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The marginal revenue product schedule is
A. the firm's resource demand schedule. B. the firm's resource supply schedule. C. the same whether the firm is selling in a purely competitive or imperfectly competitive market. D. upsloping.
Suppose that Dave has $200 to spend per week and he buys only magazines and pizza. The price of a pizza is $10 and the price of a magazine is $5. If Dave buys 20 magazines per week, which of the following amount of pizza is not affordable to him?
A) 10 B) 20 C) 9 D) All of the above answers are correct because none of the listed amounts of pizza are affordable.
Refer to Figure 16-5. In the dynamic model of AD-AS in the figure above, if the economy is at point A in year 1 and is expected to go to point B in year 2, Congress and the president would most likely pursue
A) expansionary fiscal policy. B) expansionary monetary policy. C) contractionary fiscal policy. D) contractionary automatic stabilizers. E) contractionary monetary policy.
Capital markets of poor developing countries that liberalized their financial systems to allow private asset trade with foreigners are called
A) direct foreign markets. B) foreign exchange markets. C) stock & bond markets. D) emerging markets. E) fledgling financial markets.