Refer to the information provided in Table 23.7 below to answer the question(s) that follow. Table 23.7
Refer to Table 23.7. At an aggregate output level of $800 billion, aggregate saving
A. equals -$50 billion.
B. equals $0.
C. equals $50 billion.
D. cannot be determined from this information.
Answer: C
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Assume a firm is a monopoly and enjoys $10,000,000 profits per year. The firm lobbies to have a moratorium passed by Congress on new firms in its market for the next 25 years
If there is no discount rate, how much would any firm(s) arguing against the moratorium be willing to spend to block it? A) something less than $250 million B) $250 million C) $251 million D) $250 billion
Wes works as a delivery man and can work as many hours as he likes for $12 an hour. He typically works 40 hours a week. Recently, his pay has been cut, and Wes decides to work:
A. more hours, because the price effect dominates his labor supply decision. B. less hours, because the income effect dominates his labor supply decision. C. more hours, because the income effect dominates his labor supply decision. D. the same amount, because the price effect dominates his labor supply decision.
Suppose Alan receives a check for $300 from a bank in Dallas. He deposits the check in his account at his Baltimore bank. Which of the following is Alan's Baltimore bank likely to collect the $300 from?
A. The Baltimore bank's regional Federal Reserve bank. B. The U.S. Treasury. C. The main Federal Reserve Bank in Washington, D.C. D. The Federal Reserve Board of Governors.
When insurance companies set premiums based on average characteristics of certain groups, they are trying to ______.
a. bring reckless drivers into the market b. give poor drivers a second chance c. keep good drivers in the market d. push good drivers out of the market