In Table 11-2, marginal revenue at the profit-maximizing output is how much?

A tax must be progressive if an individual with a higher income pays more dollars in taxes than an individual with a lower income.

Answer the following statement true (T) or false (F)

Jack swapped his basketball for Jim's glove. Even if national income accountants were aware of this trade, they wouldn't include it in their GDP measure because

A) it was an unproductive exchange. B) the basketball and glove were not final goods. C) this was not a market transaction. D) it failed to increase the wealth of both traders. E) there is no satisfactory way to determine market values for bartered goods, new or used.

Suppose that data for a particular economy over time suggest that its aggregate demand curve is both steep and shifts frequently. We might reasonably infer that ________

A) the central bank has an activist emphasis on the stability of economic activity B) wages and prices are remarkably flexible C) policy lags are quite long D) all of the above E) none of the above

If a monopoly is maximizing profits,

a. price will always be greater than the elasticity of demand. b. price will always equal marginal cost. c. price will always be greater than marginal cost. d. price will always equal marginal revenue.