Refer to the table below. If the cost per unit of advertising is constant at $600, what is the level of advertising per week that maximizes the industry joint profit?
Suppose the egg industry is made up of only the three farms above; Happy Chickens, Special Chickens, and Superior Chickens.
A) 4
B) 2
C) 1
D) 3
B) 2
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Use the following consumption schedule for an economy to answer the next question. All figures are in billions of dollars.RGDPConsumption$440$450490490540530590570640610If a government sector is introduced and a lump-sum tax of $30 billion is imposed at all levels of real GDP, then the values in the consumption column become
A. $426, $466, $506, $546, $586. B. $420, $460, $500, $540, $580. C. $432, $472, $512, $552, $592. D. $430, $470, $510, $550, $590.
Both monopolistically and perfectly competitive firms earn only normal profits in the long run
a. True b. False Indicate whether the statement is true or false
In the aggregate demand and aggregate supply model,
a. the factors that cause the demand curves in both models to slope downward are the same b. the factors that cause the supply curves in both models to slope upward are the same c. the upward-sloping aggregate demand curve intersects the downward-sloping aggregate supply curve to determine the economy's price level and GDP d. the upward-sloping aggregate supply curve intersects the downward-sloping aggregate demand curve to determine the economy's price level and GDP e. the price level never changes even with shifts in aggregate demand and aggregate supply
Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the real risk-free interest rate and GDP Price Index in the context of the Three-Sector-Model?
a. The real risk-free interest rate falls, and GDP Price Index falls. b. The real risk-free interest rate rises, and GDP Price Index falls. c. The real risk-free interest rate and GDP Price Index remain the same. d. The real risk-free interest rate falls, and GDP Price Index remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.