The official poverty rate for all persons declined sharply between 1959 and:
a. 2000.
b. 1970.
c. 1980.
d. 1990.
b
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Quantitative easing is likely to lead to a(n) ________
A) increase in unemployment rate B) decrease in the price level C) increase in the federal funds rate D) decrease in the federal funds rate
Compared to the no-trade situation, when a country exports a good:
a. domestic consumers gain, domestic producers lose, and the gains outweigh the losses. b. domestic consumers lose, domestic producers gain, and the gains outweigh the losses. c. domestic consumers gain, domestic producers lose, and the losses outweigh the gains. d. domestic consumers gain, domestic producers lose, an equal amount.
Answer the following questions true (T) or false (F)
1. For a perfectly competitive firm, average revenue equals marginal cost at the profit-maximizing output. 2. A perfectly competitive firm breaks even at a price equal to its minimum average total cost. 3. Maximizing average profit is equivalent to maximizing total profit.
A firm invests in a new machine that costs $2,000 a year but which is expected to produce an increase in total revenue of $2,200 a year. The current real rate of interest is 8 percent. The firm should:
A. Undertake the investment because the expected rate of return of 12 percent is greater than the real rate of interest B. Undertake the investment because the expected rate of return of 10 percent is greater than the real rate of interest C. Undertake the investment because the expected rate of return of 9 percent is greater than the real rate of interest D. Not undertake the investment because the expected rate of return of 7 percent is less than the real rate of interest