To maximize profit, a firm will find the
A. quantity where MR=MC unless P.
B. quantity where MR=MC (with no other consideration).
C. price where MR=MC.
D. quantity where TR=TC.
Answer: A
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The table above gives data for the nation of Syldavia. The current account has a
A) balance of $320 billion. B) $40 billion surplus. C) $40 billion deficit. D) $50 billion deficit. E) $30 billion deficit.
If the Ricardo-Barro effect is present, a government budget deficit raises the equilibrium real interest rate by ________ and decreases the equilibrium quantity of investment by ________ than if the Ricardo-Barro effect is absent
A) more; more B) more; less C) less; more D) less; less
Ceteris paribus, a change in the price of a good always results in a change in:
a. income. b. tastes. c. quantity demanded. d. both income and tastes. e. the price of other goods.
Poverty in the United States is defined as having an income that is less than the ____ level that is necessary to provide the basic necessities of life
a. sustainable b. relative c. absolute d. lowest quintile