A perfect forecast of demand allows a profit-maximizing manager to produce where ________ marginal revenue is ________ the marginal cost.
A) expected; greater than
B) actual; equal to
C) actual; greater than
D) expected; equal to
B) actual; equal to
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The short-run Phillips curve shows
A) a tradeoff between the unemployment rate and the inflation rate. B) a tradeoff between real GDP and unemployment. C) the expected inflation rate. D) the natural unemployment rate. E) potential GDP.
Predatory dumping is a common problem in the United States
Indicate whether the statement is true or false
Which of the following is false?
a. We can be sure that people with more income get less marginal utility from their consumption of a good than those with less income. b. We can be sure that people with less income get less marginal utility from their consumption of a good than those with more income. c. We can be sure that those who receive greater marginal utility from consumption of a particular unit of an item receive greater total utility from consumption of that item. d. All of the above are false.
Which of the following does NOT contribute to the marginal productivity of workers?
A) discrimination B) talent C) experience D) education