A general formula for the multiplier is
A) 1/(1-MPS)
B) 1/(MPC)
C) 1/(MPS)
D) 1/(MPC-1)
Answer is B) 1/(MPC)
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A market with four firms in competition with each other has a equilibrium price of $6 and equilibrium quantity of 100,000. If the four firms form a cartel, the cartel, set price will be ________ than $6 and the set quantity will be ________ than 100,000.
A) greater; less B) less; greater C) greater; greater D) less; less
Which of the following explains why elected representatives will find borrowing to be an attractive method of financing current government programs?
What will be an ideal response?
In which of the following market structures are entry barriers the highest?
A. Monopolistic competition. B. Perfect competition. C. Oligopoly. D. Monopoly.
Of the following high-income countries, which has the highest life expectancy at birth?
A) Canada B) Japan C) the United Kingdom D) the United States