The difference between the actual price that a producer receives and the minimum acceptable price the producer is willing to accept is called the producer
A. costs.
B. revenues.
C. utility.
D. surplus.
Answer: D
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Investment decreases by $300 billion, government expenditure is unchanged, and exports increase by $500 billion. As a result, autonomous expenditure ________, the total expenditure ________, and equilibrium real GDP ________
A) increases by $800 billion; increases; increases by more than $800 billion B) increases by $200 billion; increases; increases by more than $200 billion C) decreases by $300 billion; decreases; decreases by more than $300 billion D) is unchanged; is unchanged; is unchanged E) increases by $500 billion; is unchanged; increases by more than $500 billion
The reason an unregulated natural monopolist will produce at an economically inefficient quantity is
A) due to the fact that the monopolist will equate marginal cost with price to determine the output level. B) due to the fact that the monopolist will equate average total cost with price to determine the output level. C) that the price does not equal the true marginal cost of producing the good. D) that the monopolist will produce a quantity greater than the minimum of the average total cost curve.
If the government requires banks to keep 100 percent of their deposits on reserve, a $1,000 deposit in a checking account would lead to a $100,000 increase in the money supply
a. True b. False Indicate whether the statement is true or false
A perfectly competitive firm produces where
a. marginal cost equals price, while a monopolist produces where price exceeds marginal cost. b. marginal cost equals price, while a monopolist produces where marginal cost exceeds price. c. price exceeds marginal cost, while a monopolist produces where marginal cost equals price. d. marginal cost exceeds price, while a monopolist produces where marginal cost equals price.