Refer to the data provided in Table 9.2 below to answer the question(s) that follow.
Table 9.2
Refer to Table 9.2. If the market price is $17 and the firm produces 4 units of output, then its profit would be
A. -$50.
B. -$44.
C. $0.
D. $18.
Answer: B
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Mpc + mps =
A) 0. B) 0.5. C) 1. D) 100.
It is the responsibility of the Trading Desk at the Federal Reserve Bank of New York to implement policies in the form of
A) changes in the spread between the federal funds rate and the discount rate that are consistent with rules established by the twelve Federal Reserve bank presidents. B) variations in reserve requirements that are consistent with the announcements by the Chair of the Fed's Board of Governors. C) changes in foreign exchange rates that are consistent with policies established by the Secretary of the Treasury. D) buying or selling government securities that are consistent with the FOMC Directive.
Firms generally prefer not to outsource product design and manufacturing because:
a. these activities are common and standardized. b. these operations are more or less static. c. these operations involve a low investment. d. these operations require investment in highly specific assets.
If the United States, at the point where it is currently producing, must give up the production of 500 bicycles (B) to produce 20 additional tractors (T) with the same resources, the opportunity cost of producing 5 tractors is _______ bicycles.
A) 5 B) 20 C) 100 D) 125