According to the following figure, marginal revenue is zero at Q = ________.
A. 1,000 units
B. 2,000 units
C. 3,000 units
D. 4,000 units
E. none of the above
Answer: B
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If there is an increase in the price level in the classical model,
a. the equilibrium level of output will remain unchanged. b. real wages remain constant. c. money wages will rise proportionally. d. all of the above.
Consumption expenditures in the U.S. usually account for approximately __________ percent of GDP
A) 40 B) 50 C) 60 D) 70 E) 80
An increase in the supply of dollars and an increase in the demand for Japanese yen
A. increases the value of the yen. B. does not change the exchange rate between dollars and yen. C. increases the value of the dollar. D. increases the yen price of dollars.
Perhaps the biggest problem that is faced by those administering workfare programs is
A. that most of the people on welfare are not highly employable. B. too much money is allocated for education and training. C. that welfare recipients have no incentive to work. D. the states are not required to follow any guidelines in administering the program.