If a market economy was in a recession, which of the following would help direct it back toward the full employment rate of output?
a. an increase in the rate of inflation
b. lower resource prices and lower real interest rates
c. higher resource prices and higher real interest rates
d. a decrease in the natural rate of unemployment
B
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What can be said about the market price when a good is in surplus (i.e., when the quantity supplied exceeds the quantity demanded)? How will demanders and suppliers respond to a surplus, and what will happen to the market price?
What will be an ideal response?
Automatic payroll deductions help people to fight ____________________ .
Fill in the blank(s) with the appropriate word.
Suppose the accompanying table describes the relationship between price and quantity demanded for a monopolist. QuantityPrice1$102$93$84$75$66$57$48$3The marginal revenue of the third unit of output is:
A. $6. B. ?$1. C. $24. D. $8.
If the demand curve of a perfect competitor is tangent to (just touching) the firm's average total cost curve,
A. the firm is definitely in the short run. B. the firm is probably in the short run. C. the firm is definitely in the long run. D. the firm is probably in the long run.