Total revenue divided by quantity is
A. average revenue.
B. marginal revenue.
C. price revenue.
D. quantity revenue.
Answer: A
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When the economy is disturbed by a change in the output market
A) a fixed exchange rate has an advantage over a flexible rate. B) a floating exchange rate has an advantage over a fixed rate. C) a crawling peg exchange rate has an advantage over a flexible rate. D) a floating exchange rate has the same effect as fixed rate. E) a flexible exchange rate is not as effective as a fixed exchange rate.
Which of the following would cause the unemployment rate as measured by the Bureau of Labor Statistics to understate the true degree of joblessness in the economy?
A) people employed in the underground economy B) unemployed persons who falsely report themselves as actively looking for a job C) retired people who have no intention of returning to work D) people with part-time jobs who would prefer to be working full time
The expected stream of rental income is capitalized into value by converting expected future cash flows into present value through a process called:
A. amortization B. discounting C. compounding D. accounting
Which of the following is true about a monopolistically competitive firm in the long run?
A. It produces at the level where costs are minimized. B. It tends to realize only a normal profit. C. It is as efficient as a purely competitive firm. D. It will practice marginal cost pricing.