Higher future living standards require:
A. increased rates of current consumption.
B. increased rates of population growth.
C. reduced rates of current consumption.
D. reduced rates of current investment.
Answer: C
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In a short run competitive equilibrium
A) the market demand curve is horizontal. B) the market demand curve is downward sloping. C) the market demand curve is perfectly inelastic. D) All of the above are possible.
A single-price monopolist is producing 500 units of output. At that level, price is $200, and average total cost is $150 . In addition, both marginal cost and marginal revenue equal $120 . Which of the following statements is correct in the short run?
a. The firm has total costs of $60,000. b. The firm could increase its profit by increasing output. c. The firm has a profit per unit of $50. d. The firm is suffering an economic loss of $15,000. e. The firm is earning an economic profit of $40,000.
If private investment increased by $50 billion while GDP remained the same, which of the following could have occurred, all else being the same?
a. Consumption spending decreased by $50 billion b. Exports increased by $50 billion c. Imports decreased by $50 billion d. Net exports increased by $50 billion e. Government spending increased by $50 billion
You purchased an automobile two years ago for $10,000 . Its current market price is $5,000 . and the expected market value one year from now is $4,500 . If the interest rate is 10 percent, how much will it cost you to keep the car for an additional year (over and above operation and maintenance costs)?
a. $500 b. $1,000 c. $1,500 d. $5,000