The analysis of the competition between Apple and Samsung in the smartphone market is based on
A) microeconomic model.
B) educated guessing.
C) intuitive reasoning.
D) consumer surveys.
A
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Janine’s country is wealthy and has a large amount of capital. If her country adds a single unit of capital, the result will be a relatively ______ in output.
a. large decrease b. minor decrease c. large increase d. minor increase
If the market price of a DVD is $15 and a consumer was willing to pay $20 for it, that consumers surplus on the DVD is $5.
Answer the following statement true (T) or false (F)
Which type of unemployment is likely to increase the most during an economy's recession?
a. Frictional unemployment b. Seasonal unemployment c. Structural unemployment d. Cyclical unemployment e. Underemployment
In 1963, government economists assumed that the MPC for the United States was approximately 0.90 . If taxes were cut by $9 billion, then consumer expenditures would initially be expected to
a. decrease by $9.0 billion. b. increase by $9.0 billion. c. decrease by $8.1 billion. d. increase by $8.1 billion.