The added revenue that a firm takes in when it increases output by one additional unit is ________ revenue.
A. fixed
B. variable
C. total
D. marginal
Answer: D
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Which of the following is counted in GDP?
A) the value of do-it-yourself work B) the value of leisure C) the value of goods and services produced in the underground economy D) the cost of a speed boat purchased by drug smugglers
In the IS-LM-BP model, when the price variable decreases, the
A) LM curve shifts out. B) IS curve shifts out. C) LM curve shifts in. D) BP curve shifts up.
In the DMP model, an increase in the unemployment insurance benefit does not, under any circumstances
A) increase the vacancy rate. B) increase the unemployment rate. C) reduce labor market tightness. D) reduce the size of the labor force.
The demand for Dell laptops is more price elastic than the demand for laptops as whole. This is best explained by
a. There are fewer substitutes for Dell laptops than for laptops as whole b. There are more substitutes for Dell laptops than for laptops as whole c. Dell laptops are luxurious goods d. Dell laptops are a necessity