The deregulation of oil pricing will
A. increase our dependence on foreign oil.
B. make the United States energy independent by the year 2000.
C. decrease domestic production.
D. decrease the extent of the nation’s dependence on foreign oil.
Answer: D
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Winnie's Car Wash is a perfectly competitive firm. The table above shows Winnie's total product schedule. If the price of a car wash is $4, what is the value of marginal product of the 4th worker?
A) $240 B) $70 C) $10 D) $40
Marginal revenue product of labor equals marginal product times the wage only when the firm is a perfect competitor in the product market
a. True b. False
If U.S. consumers become more optimistic about their future income and wealth, the consumption function will shift upward
a. True b. False Indicate whether the statement is true or false
The money supply decreased and the AD curve shifted to the left. This is consistent with the
A) Keynesian transmission mechanism when there is neither a liquidity trap nor interest-insensitive investment. B) monetarist transmission mechanism. C) Keynesian transmission mechanism when there is a liquidity trap. D) Keynesian transmission mechanism with interest-insensitive investment. E) a and b