When a monopolist sells two units of output its total revenue is $600. When a monopolist sells three units of output its total revenue is $690. When the monopolist sells three units of output, the price per unit is
A. $210.
B. $230.
C. $300.
D. $630.
Answer: B
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The practice of increasing a nominal quantity each period by an amount equal to the percentage increase in a specified price index is called:
A. indexing. B. the Fisher effect. C. a substitution bias. D. deflating.
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
Tariffs ________ the domestic price of the good and import quotas ________ the domestic price of the good
A) lower; lower B) lower; raise C) raise; lower D) raise; raise
Those who favor changes in the market for health care that would make it more like the markets for other goods and services favor what are generally known as market-based reforms
Indicate whether the statement is true or false