Macroeconomic topics do not usually include:
A. the profit maximizing decisions of an individual manufacturer.
B. the rate of inflation.
C. the rate of unemployment.
D. economic growth.
A. the profit maximizing decisions of an individual manufacturer.
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The concentration ratio for an industry can be increased almost overnight by
a. collusion among the leading four firms b. the creation of a cartel c. a conglomerate merger d. a vertical merger e. a horizontal merger
In competitive price-taker markets, firms
a. can sell all of their output at the market price. b. produce differentiated products. c. can influence the market price by altering their output level. d. are large relative to the total market.
The income-expenditure multiplier arises because one person's additional spending becomes another person's additional income that will generate additional:
A. cyclical unemployment. B. spending. C. autonomous expenditure. D. menu costs.
John is currently spending all of his income. For the last unit of Good X consumed John gets 20 utils and for the last unit of Good Y consumed he gets 10 utils. The price of Good X is $2. The price of Good Y is $5. If John wants to maximize his utility
he should A) continue to purchase the same amount of Good X and Good Y. B) increase the consumption of Good X and decrease the consumption of Good Y. C) decrease the consumption of Good X and increase the consumption of Good Y. D) decrease the consumption of Good X and decrease the consumption of Good Y.