A monopolist is defined as
A. a single producer of a good or service for which there is no close substitute.
B. a producer of a good or service that is expensive to produce, requiring large amounts of capital equipment.
C. a large firm, making substantial profits, that is able to make other firms do what it wants.
D. a firm with many business establishments located across the nations.
Answer: A
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According to Baumol and Blinder, the real-world multiplier will be smaller than 1/(1 ? MPC) because the 1/(1 ? MPC) measure is based on
a. a model that ignores inflation associated with the expansion of income. b. a model that ignores taxes that tend to change as income changes. c. a model that ignores the effects of international trade. d. all of the above.
Figure 10-8
If the economy were operating at point a in , the real rate of interest would tend to
a.
decrease and move the economy toward point c.
b.
decrease and move the economy toward point b.
c.
increase and move the economy toward point c.
d.
increase and move the economy toward point b.
Use the following table to answer the next question. The base year is 2007. YearHot DogsBaseballsBottles of Beer?PriceQuantityPriceQuantityPriceQuantity2005$2.50100$2.5050$1.0010020064.001005.001002.0015020075.001005.001002.0020020088.001508.002004.00200200910.0020010.002004.00250Calculate the percentage change in prices from 2007 to 2009.
A. 175% B. 200% C. 150% D. 100%
Suppose that the government of New York state promises to decrease taxes to a firm if it decides to stay in New York instead of moving to another state. This policy on the part of the state constitutes ________, to make the ________ of the firm remaining in New York.
A) an incentive; marginal benefit exceed the marginal cost B) an incentive; marginal cost exceed the marginal benefit C) a command; marginal benefit exceed the marginal cost D) a command; marginal cost exceed the marginal benefit