Refer to the information provided in Figure 13.2 below to answer the question(s) that follow.
Figure 13.2 Refer to Figure 13.2. The marginal revenue of the third pound of cheese is
A. -$5.
B. $5.
C. $7.
D. $21.
Answer: B
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The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
With direct finance, funds are channeled through the financial market from the ________ directly to the ________
A) savers, spenders B) spenders, investors C) borrowers, savers D) investors, savers
The existence of an inflationary gap or an recessionary gap depends on the
a. aggregate supply only. b. expenditure schedule. c. leakages schedule. d. injections schedule. e. aggregate demand and aggregate supply schedules.
Refer to Figure 8.1 above. The total fixed costs for Cyndy's Floral Arrangements are $1,000. If Cyndy's Floral Arrangements produces 200 silk flower arrangements, the average fixed costs are A) $.20. B) $5. C) $20. D) $200.