Raiman's Shoe Repair also produces custom-made shoes. When Mr. Raiman produces 12 pair a week, the MC of the twelfth pair is $64, and the MR of that unit is $70 . What would you advise Mr. Raiman to do?
a. shut down
b. produce more custom-made shoes
c. stay at 12 pairs a week
d. produce fewer custom-made shoes
e. decrease price
B
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All cash within the geographical boundaries of the United States is counted as part of the U.S. money supply
a. True b. False
The natural rate of unemployment (i) is the economy's desirable level of unemployment. (ii) arises from a single problem that has a single solution. (iii) is the amount of unemployment that does not go away on its own
a. (i) and (ii) only
b. (iii) only
c. (i), (ii), and (iii)
d. None of the above is correct.
Hold-up:
A. mitigates worker shirking. B. makes spot exchange efficient. C. solves the principal-agent problem. D. is a hazard associated with relationship-specific exchange.
The demand for money curve depicts
A. a direct relationship between the quantity of money demanded and the interest rate. B. an inverse relationship between the quantity of money demanded and the interest rate. C. an inverse relationship between the quantity of money demanded and the quantity of bonds demanded. D. a direct relationship between the quantity of money demanded and the quantity of bonds demanded.