Which of the following goods are not likely to be sold in monopolistically competitive markets?
a. jeans
b. books
c. tap water
d. clocks
c
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Between 1947 and 2014, U.S. real GDP
A) remained relatively unchanged. B) doubled. C) grew eightfold. D) decreased even though nominal GDP increased.
A gold purchase by the U.S. Treasury
A) reduces bank reserves. B) increases bank reserves. C) increases Federal Reserve equity. D) leaves bank reserves unaffected.
An agency is having problems with personal phone calls made during working hours. Each minute of a personal call costs the agency $0.50 in wasted wages. The agency hires operators to monitor calls in order to attain the optimal number of personal calls (minimize total cost of personal calls).
Based on the above information, if operators receive $25 an hour, how many operators should the agency hire?
A. 0 B. 1 C. 2 D. 3 E. 4
Refer to the above graph. Which line shows the full-employment output for the economy?
A. 1 B. 2 C. 3 D. 4