Among all workers in the U.S. with PhDs, ________ percent are foreign born.
A. 24
B. 1
C. 5
D. 90
Answer: A
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The lowest point on a perfectly competitive firm's short-run supply curve corresponds to the minimum point on its
A. AFC curve. B. MC curve. C. AVC curve. D. ATC curve.
The short-run Phillips curve is a curve that shows the relationship, other things being constant, between ________ and ________
A) the inflation rate; the nominal interest rate B) the inflation rate; the expected inflation rate C) the unemployment rate; real GDP D) potential GDP; the natural unemployment rate E) the inflation rate; the unemployment rate
The amount of real GDP produced at any one time depends on
i. a fixed amount of capital. ii. a fixed level of technology. iii. decisions people make about leisure versus working. A) ii only B) ii and iii C) i and ii D) i only E) i, ii and iii
Refer to the information below. If the firms' managers form a price -fixing cartel that maximizes the firms' total profit, what is price charged in the market?
A small nation has three gasoline suppliers with a linear monthly market demand equal to: Q = 500,000 - 5P. Each firm's marginal cost (MC) and average total cost (ATC) curves are horizontal at $10,000 per month. A) $100,000 B) $10,000 C) $55,000 D) $5,500