When the short term adjustment of a nation's price level is sluggish, economists will often discuss the nation's
A) price inertia.
B) policy assignment.
C) trade restrictions.
D) central bank independence.
A
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A cruiser bike is being auctioned in a first-price sealed-bid auction. You always wanted to own a cruiser bike, and therefore decide to participate in the auction. You value the bike at $4,000
On the day of the auction, you see that there are 70 other bidders. Your optimal bid in this case is ________. A) $3,500 B) $3,000 C) $4,000 D) $3,944
Economic growth is
A) an increase in the per person real production in a nation. B) an increase in stock market values. C) an increase in real estate values. D) an increase in the number of people employed in agriculture.
In the short-run macro model, an increase in the money supply will
a. move the economy to the right along the aggregate expenditure line. b. move the economy to the left along the aggregate expenditure line. c. shift the aggregate expenditure line upward. d. shift the aggregate expenditure line downward. e. cause the aggregate expenditure line to rotate until it is flat.
Suppose a firm has a Cobb-Douglas weekly production function Q = F(L, K) = 25L0.5K0.5, where L is the number of workers and K is units of capital. The wage rate is $900 per week, and a unit of capital costs $400 per week. Assuming no fixed costs, what is the firm's total cost of production if it uses least-cost input combination to produce 675 units of output?
A. $48,600 B. $43,650 C. $35,100 D. $32,400