If MR = MC, a monopolist should:
A. stop producing.
B. maintain the same level of production.
C. decrease production.
D. increase production.
Answer: B
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Good news about an economic indicator __________ the denominator of a bond's valuation formula, __________ the bond's price
A) raises; raising B) raises; lowering C) lowers; raising D) lowers; lowering
The slope of the consumption function equals the marginal propensity to consume
a. True b. False Indicate whether the statement is true or false
Small differences in growth rates of real GDP per person over the long run make ______ differences in the average standard of living.
A. almost no B. unpredictable C. very large D. very minor
Which of the following is not a widely acknowledged problem with using the CPI as a measure of the cost of living?
a. substitution bias b. introduction of new goods c. unmeasured quality change d. unmeasured price change