For a monopolist producing the output where profit is maximized:

a. price equals marginal cost.
b. price equals marginal revenue.
c. price is less than marginal cost.
d. price exceeds marginal cost.


d

Economics

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Which of the following type of funds cater to wealthy individuals, are not bound by government regulations, and are actively traded in foreign exchange markets?

A) pension funds B) mutual funds C) hedge funds D) exchange funds

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Everything else held constant, an increase in the money market fund ratio will mean ________ in the M2 money multiplier and ________ in the M2 money supply

A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease

Economics

Less-developed countries that nonetheless have access to the latest technologies must be suffering from a relative shortage of ________ according to the Solow growth model, implying a very ________ rate of return available on additions to capital in

those countries. A) capital, low B) capital, high C) labor, low D) labor, high

Economics

The oft-heard "I-knew-it-all-along" comment that many people make illustrates the:

A. Confirmation bias B. Framing effect C. Hindsight bias D. Self-serving bias

Economics