The main issues that macroeconomic studies are
a. interest rates, jobs, and government policies.
b. production, costs, and benefits.
c. economic growth, unemployment, and inflation.
d. choices made by household and businesses.
c. economic growth, unemployment, and inflation.
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In Macroland autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, investment is fixed at 50, government expenditures are fixed at 150, and net exports are fixed at 20. Aggregate expenditure equals
A. 290 + 0.25Y. B. 290 + 0.75Y. C. 320 + 0.75Y. D. 320 + 0.25Y.
The table above shows Randy's Shirts' short-run production function. Randy hires workers at a wage rate of $50 a day and his total fixed cost is $100
a) What is the marginal product of the 3rd worker? b) What is Randy's average fixed cost if 48 shirts are produced? c) What is Randy's average variable cost if 56 shirts are produced? d) What is Randy's marginal cost of producing the 52nd sweater? e) What is Randy's average total cost if 48 sweaters are produced?
One reason why airlines charge business travelers and leisure travelers different prices is
A) business travelers fly according to schedules that are planned months in advance. Many leisure travelers buy their tickets at the last minute. B) business travelers fly more often than most leisure travelers. As a result, their employers are able to bargain with airlines for lower fares than leisure travelers pay. C) business travelers often have inflexible schedules and have to travel on a particular day. The opposite is true for leisure travelers. D) business travelers usually travel alone. Leisure travelers often fly with friends and family members; therefore, they have a more inelastic demand for airline tickets than business travelers.
When each stockholder incurs a tax liability on his or her share of the earnings of a corporation (whether or not the earnings are distributed), this is known as
A. being fully funded. B. full integration. C. full loss offset. D. fully imputed rent.