A monopoly sells 5 units of output at $20. If the MR of the 6th unit is $14, then the price of the 6th unit is
A. greater than $20.
B. $19.
C. also $14.
D. $17.
Answer: B
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The Fed's policy tools include
A) required reserve ratios, the discount rate, open market operations, and extraordinary crisis measures. B) holding deposits for the U.S. government, reserve requirements, and the discount rate. C) setting regulations for lending standards and extraordinary crisis measures. D) supervision of the banking system and buying and selling commercial banks. E) required reserve ratios, income tax rates, and open market operations.
If a firm in a perfectly competitive market faces a market price of $5, and it decides to produce 400 units, the firm's total revenue will be:
A. $5. B. $400. C. $2,000. D. $405.
There is no difference between government expenditures or outlays and government purchases or spending
a. True b. False Indicate whether the statement is true or false
A new entrant is an individual
A. in the labor force whose employment was involuntarily terminated. B. in the labor force who quits voluntarily. C. who has never held a full-time job lasting two weeks or longer but is now seeking employment. D. who used to work full time but left the labor force and has now reentered it looking for a job.