For a monopoly producing any output level greater than one, the marginal revenue curve:
A. lies below the demand curve.
B. is minimized when total revenue is maximized.
C. lies above the average revenue curve.
D. is the same as the demand curve.
Answer: A
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Which of the following is an example of "pork barrel spending"?
A) Funds spent by the federal government in repairing national highways B) Funds spent by the Fed to bail out large financial institutions during recessions C) Government funds spent by a senator for building fountains in his home state D) Funds spent by the government in providing unemployment insurance
If the nominal interest rate in an economy is 9% and the expected inflation rate is 6%, then the expected real interest rate in the economy is:
A) 15%. B) 3%. C) 6%. D) 9%.
The figure above shows the relationship between the time a student spends studying and the student's GPA that semester. This figure shows ________ relationship between the time spent studying and the GPA
A) a positive, linear B) a positive but not linear C) a cross-sectionally trended D) a negative E) no
A perfectly competitive wheat farmer in a constant-cost industry produces 3,000 bushels of wheat at a total cost of $36,000. The prevailing market price is $15. What will happen to the market price of wheat in the long run?
A) The price falls to $12. B) The price rises above $15. C) The price remains constant at $15. D) There is insufficient information to answer the question.