Open-market purchases cause a(n) _____ in interest rates and a(n) _____ in real GDP in the short run
Fill in the blank(s) with correct word
decrease, increase
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Using the table above, what is the marginal product of the 5th worker hired at Decent Donuts?
A) 86 dozen donuts per day B) 22 dozen donuts per day C) 17.2 dozen donuts per day D) 64 dozen donuts per day
The following graph shows average fixed costs, average variable costs, average total costs, and marginal costs of production.
The distance EF represents:
A. marginal cost. B. average total cost. C. average fixed cost. D. average variable cost.
Problems associated with thin markets provide incentives for:
A. buyers to seek information about identifying high-quality items. B. sellers to prove that the items they are selling are of high quality. C. buyers and sellers to agree upon a higher price than would hold in equilibrium. D. both buyers to seek information about identifying high-quality items and sellers to prove that the items they are selling are of high quality.
Comparing a uniform abatement policy, pollution tax and a command-and-control policy, which one is the most efficient approach in dealing with pollution?
A. pollution tax B. uniform abatement C. command-and-control D. All of these are equally efficient.