Which of the following countries has had the greatest productivity per worker within the last ten years?
a. Germany
b. Nigeria
c. Nicaragua
d. India
a
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If a negative externality exists, __________ in order for the socially optimal output to be reached.
A. supply needs to increase B. supply needs to decrease C. demand needs to increase D. b and c E. none of the above
If the CPI for year 1 was 106.1, while that for year 2 was 112.4, then the inflation rate for year 2 was:
(a) 5.9%; (b) 6.3%; (c) 5.6%; (d) 12.4%.
The price elasticity of demand for leisure air travel is -1.60. Therefore, a
A. 16 percent decrease in the price of leisure air travel will cause a 10 percent increase in the amount of leisure air travel. B. 10 percent decrease in the price of leisure air travel will cause a 16 percent increase in the amount of leisure air travel. C. a 16 percent decrease in the price of leisure air travel will cause a 10 percent decrease in the amount of leisure air travel. D. 10 percent decrease in the price of leisure air travel will cause a 16 percent decrease in the amount of leisure air travel.
The marginal revenue curve of a monopolist is
A) downward sloping and below the demand curve. B) downsloping and identical to the demand curve. C) downsloping and above the demand curve. D) horizontal and same as the market demand curve.