Speculators play a role in the economy similar to that played by
a. farmers.
b. investment banks.
c. insurance companies.
d. stockbrokers.
c
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A price searcher faces the following demand function: At $7, 6, 5, 4, and $3, the quantity demanded is 300, 400, 500, 600, and 700 units respectively. If the firm's marginal cost is $300 at any level of output, it would maximize net revenues by
A) producing 400 units and charging $6. B) producing 500 units and charging $5. C) producing 600 units and charging $4. D) producing 700 units and charging $3.
The value of R2 always _____.
A. lies below 0 B. lies above 1 C. lies between 0 and 1 D. lies between 1 and 1.5
Consumer Sovereignty
What will be an ideal response?
During a recession, automatic stabilizers cause the federal deficit to
A. either increase or decrease. B. remain unchanged. C. increase. D. decrease.