For a perfectly competitive corn grower in Nebraska, the marginal revenue curve is
A) downward sloping.
B) the same as its demand curve.
C) upward sloping.
D) U-shaped.
E) vertical at the profit maximizing quantity of production.
B
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Saving done for the purpose of leaving an inheritance is called ________ saving.
A. public B. bequest C. life-cycle D. precautionary
Capital flight is a problem to DVCs because it:
A. causes the value of a DVCs currency to appreciate. B. reduces the volume of DVC investment. C. reduces the flow of foreign aid from the IACs. D. causes inflation in the DVCs.
A proponent of supply-side economics would advocate
a. increasing income taxes on saving. b. reducing corporate income tax. c. increasing capital gains tax. d. increasing personal income tax.
If two products are substitutes, then the:
A. cross-price elasticity of demand between them will be negative. B. income elasticity of demand for both will be high. C. price elasticity of demand for both will be positive. D. cross-price elasticity of demand between them will be positive.