The main examples of macroeconomic coordination failures are
a. profit declines.
b. relative price changes.
c. recessions and depressions.
d. consumer taste changes.
c
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Because of diminishing marginal productivity
A) the labor supply curve is not vertical. B) nominal wages are sticky in a downward direction. C) the labor demand curve is negatively sloped. D) households save only a small share of their income.
The International Monetary System was established
A) by the United Nations. B) by the Bretton Woods Agreement. C) by the United States, in cooperation with Great Britain. D) during the Great Depression by the League of Nations.
For providing their resources to firms, workers, loanable funds' suppliers, landowners, and entrepreneurs, receive (in the same order)
a. wages, rent, profit, and interest b. wages, interest, rent, and profit c. wages, profit, rent, and interest d. wages, interest, profit, and rent e. profit, rent, interest, and wages
ABC Company incurs a cost of 50 cents to produce a dozen eggs, while XYZ Company incurs a cost of 70 cents to produce a dozen eggs. Which of the following price increases would cause both companies to experience an increase in producer surplus?
a. The price of a dozen eggs increases from 40 cents to 55 cents. b. The price of a dozen eggs increases from 55 cents to 70 cents. c. The price of a dozen eggs increases from 55 cents to 75 cents. d. All of these price increases would cause both companies to experience a loss in producer surplus.