Refer to the budget line shown in the diagram. The absolute value of the slope of the budget line is:
A. MU C /MU D .
B. one-half.
C. P D /P C .
D. P C /P D
D. P C /P D
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A price searcher faces the following demand function: At $7, 6, 5, 4, and $3, the quantity demanded is 300, 400, 500, 600, and 700 units respectively. If the firm's marginal cost is $100 at any level of output, it would maximize net revenues by
A) producing 400 units and charging $6. B) producing 500 units and charging $5. C) producing 600 units and charging $4. D) producing 700 units and charging $3.
Statistical discrimination is legal under the disparate impact standard but illegal under the treatment standard
a. True b. False Indicate whether the statement is true or false
According to the permanent income hypothesis, which of the following should raise current consumption the most?
a) a lottery prize of $1,000 b) an unexpected year-end bonus of $1,000 c) a temporary tax cut of $1,000 d) an increase of $1,000 in annual salary e) an inheritance of $1,000
The short-run aggregate supply (SRAS) curve represents the relationship between
A. the price level and the real Gross Domestic Product (GDP) without full adjustment or full information. B. the price level and the nominal Gross Domestic Product (GDP). C. the price level and the real Gross Domestic Product (GDP) without full adjustment but with full information. D. the decisions of producers and the decisions of consumers.