The total revenue curve for a perfectly competitive firm
a. is a vertical line intersecting the horizontal axis
b. is a horizontal line intersecting the vertical axis
c. starts part way up the vertical axis, then slopes upward in a backwards-S curve
d. is a straight line starting from the origin and sloping upward
e. starts at the origin, sloping upward at first and then sloping downward
D
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An individual who is employed part time, but is looking for a full-time job, is classified as:
A. frictionally unemployed. B. cyclically unemployed. C. structurally unemployed. D. employed.
According to the above table, the market clearing (equilibrium) price would adjust to
A. $3. B. $1. C. $5. D. $4.
If the marginal propensity to save is 0.4 and disposable income increases from $1,000 to $2,000, saving will increase
A. $400. B. $200. C. $300. D. $100.
Among the key ingredients of what a house is fundamentally worth would be
A. the quality of the school system in which the house is located. B. the opportunity cost of the land on which the house is located. C. "location, location, location"! D. all of the options are correct.