When a total output curve is falling, its corresponding marginal product curve is:
a. vertical.
b. horizontal.
c. rising.
d. falling.
d
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Suppose the current account has a value of $500,000 and the financial account has a value of $525,000. The value of the capital account is ________.
A. $25,000 B. -$1,025,000 C. $1,025,000 D. -$25,000
Government intervention in agricultural markets in the U.S. began
A) during the Korean War. B) during World War II to ensure that enough food was available for domestic consumption. C) after World War I in order to assist farmers to adjust from a war-time economy to a peace-time economy. D) during the Great Depression.
Median income is the:
A. in the level earned by the household exactly in the middle of the national income distribution. B. the total national income divided by the total number of households. C. the total national income divided by the total population. D. 50% of the top quintile level of income.
In the highly competitive setting in which oligopoly firms operate, which of the following are considered to be typical temptations for firms?
A. to cooperate to generate and then divide up monopoly-like profits B. to cooperate to mutually decide what price to charge C. to cooperate to make decisions about what quantity to produce D. all of the above