The table above gives the total revenue and total cost for a perfectly competitive firm producing chocolate chip cookies. If the firm increases its output from 2 pounds of cookies to 3 pounds, the marginal cost is ________ per pound of cookies
A) $11
B) $15
C) $24
D) $39
B
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The crowding out effect is often associated with
A) a temporary increase in taxes. B) the reinforcing impact of state and local tax changes on federal tax changes. C) the impact of a tax rate increase when the aggregate supply function is horizontal. D) an increase in the interest rate caused by government borrowing.
What is most affected by the expected rate or pace of economic growth?
A) investment spending B) government purchases C) unemployment D) exports
Conrad and Meyer (1958) counter Fogel and Engerman's (1974) claim that slave breeding was a myth by arguing that any profit-maximizing slave owner would consider slave breeding as long as:
(a) The expected rate of return from slave sales fell below the costs of rearing the slave to the age of sale. (b) Slavery was an irrational institution. (c) The expected rate of return from slave sales exceeded the costs of rearing the slave to the age of sale. (d) Slavery was an immoral institution.
If an automobile manufacturer has an agreement with its tire supplier, this is an example of a ________ agreement.
A) rightward B) vertical C) horizontal D) leftward