In a competitive market equilibrium the ________ equals the ________ of the last unit sold
A) marginal benefit; marginal cost B) total profit; marginal benefit
C) profit; selling price D) total cost; marginal cost
A
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Which of the following correctly identifies the difference between the demand for labor and the demand for final goods?
A) The demand for labor is fixed over time, whereas the demand for final goods changes according to changes in tastes and preferences. B) The demand for final goods is fixed over time, whereas the demand for labor changes according to the changes in tastes and preferences. C) The demand for final goods is derived from the demand for labor, whereas the demand for labor is independent of the demand for final goods. D) The demand for labor is derived from the demand for final goods, whereas the demand for final goods is independent of the demand for labor.
The most common type of simple loan is a(an)
A) automobile loan from a bank. B) mortgage loan from a bank. C) commercial loan from a bank. D) corporate bond.
If the Fed has a goal of stable real GDP and government spending increased, which of the following would occur?
a. The money demand would not change, real GDP would not change, the interest rate would decrease, and there would be partial crowding out. b. Money demand would not change, real GDP would not change, the interest rate would increase, and there would be complete crowding out. c. Money demand would increase, real GDP would not change, the interest rate would increase, and there would be partial crowding out. d. Money demand would not change, real GDP would increase, the interest rate would decrease, and there would be complete crowding out. e. Money demand would increase, real GDP would not change, the interest rate would decrease, and there would be complete crowding out.
The dawning of the computer age in the latter part of the 20th century created a new and massive growth spurt in the United States that illustrates what some economists describe as the
a. real growth theory b. accelerator phenomenon c. start of an innovation cycle d. interaction of the multiplier and accelerator e. Adam Smith economic growth theory