Which of the following is the profit-maximizing condition for a monopolist?
a. P = AR = MR = MC
b. MR > MC
c. P = AR > MR = MC
d. MR < MC
c
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The government's budget deficit is best represented by which of the following equations?
A) Budget deficit = Government purchases of goods and services + Transfer payments + Interest payments on existing debt + Seigniorage B) Budget deficit = Government purchases of goods and services + Transfer payments + Tax revenue+ Newly issued government bonds C) Budget deficit = Government purchases of goods and services + Interest payments on existing debt + Newly issued government bonds + Seigniorage + Transfer payments - Tax revenue D) Budget deficit = Government purchases of goods and services + Transfer payments - Tax revenue + Interest payments on existing debt
Given the strict quantity theory of money, if the quantity of money were decreased by 50 percent, prices would:
a. fall by 50 percent. b. rise by 50 percent. c. increase by 100 percent. d. decrease by 100 percent.
Now, about ____ percent of American married-couple families have two or more wage earners.
A. 35 B. 50 C. 60 D. 90
Which of the following has been a significant factor in DVDs replacing video cassettes (VCs) in the retail home video market?
A) DVDs are now less than one-half the price of VCs. B) A scarcity of production capacity has curtailed the manufacture of VCs. C) Most consumers perceive DVD sound and video reproduction to be of higher quality. D) The price of DVD players has increased dramatically.