In the Keynesian model, a $5 billion decrease in autonomous planned investment leads to ________ in short-run equilibrium output.
A. no change.
B. a $5 billion increase
C. a greater than $5 billion decrease
D. a $5 billion decrease
Answer: C
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The more inelastic the consumer demand for the final product, the
A) greater will be the economic profit in a competitive market. B) greater the impact on employment from a change in the wage rate. C) more inelastic the demand for labor producing the product. D) more responsive the output demand to a change in the price of labor.
Which of the following is TRUE?
A) Monopoly results in a higher quantity of output being sold compared with perfect competition. B) Price discrimination occurs when there are differences in prices that reflect differences in marginal cost. C) Charging all customers the same price when costs vary can actually be a case of price discrimination. D) Price discrimination guarantees that the monopolist will make a profit.
If the city mayor would perform mayoral duties for $10,000 because he just loves the limelight, but the salary for the position is $45,000 . then the mayor is earning
a. $10,000 rental income b. $35,000 professional rent c. $45,000 differential rent d. $35,000 wage-related rent e. $10,000 wage-related rent
De Soto's The Other Path encourages poor countries to use their development policies to do all of the following except
A. Enforce laws to safeguard property. B. Encourage population growth. C. Reduce regulations. D. Encourage entrepreneurship.