If a firm sells 50 units of output at $9 per unit and 60 units of output when price is reduced to $8, its marginal revenue from selling the sixth unit is
A) $10.
B) $480.
C) $450.
D) $30.
Answer: D
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When the Fed wants to lower the federal funds rate, it ________.
A. increases the reserve requirement B. increases the prime rate C. buys bonds from banks and the public D. increases the discount rate
According to this Application, in the year 2075, the portion of GDP devoted to spending on Social Security, Medicare and Medicaid is expected to be
A) significantly less than the share of GDP devoted to these programs today. B) roughly equal to the total amount of GDP today. C) greater than the consumption spending component's share of GDP in 2075. D) larger than total federal spending's share of GDP today.
Which of the following would reduce the supply of an athletic trainer's services at today's wage rate, other things constant?
a. a reduction in the individual's income from other sources b. an improvement in the quality of the work environment c. an increase in the amount of control the trainer has over the use of time on the job d. a trainer's future earning possibilities go down due to a new negative image associated with this work e. an increase in the trainer's preference for this type of work
The crowding-out effect refers to:
a. higher interest rates and reduced private spending that results from financing federal budget deficits. b. higher future taxes accompanying budget deficits to reduce private consumption. c. the inflation rate to rise when the unemployment rate is low. d. increases in private savings to reduce interest rates and, thereby, crowd-out government