The marginal revenue of a price taker is:
a. equal to price.
b. less than price.
c. more than price.
d. unrelated to price.
a
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Which of the following is an example of "pork barrel spending"?
A) Funds spent by the federal government in repairing national highways B) Funds spent by the Fed to bail out large financial institutions during recessions C) Government funds spent by a senator for building fountains in his home state D) Funds spent by the government in providing unemployment insurance
If the reciprocal of the slope of a demand curve is calculated, this value is equal to the price elasticity of demand for that good.
Answer the following statement true (T) or false (F)
Macroeconomics approaches the study of economics from the viewpoint of
A. the operation of specific product and resource markets. B. governmental units. C. the entire economy. D. individual firms.
Unfair advertising practices are investigated by the Federal Trade Commission.
Answer the following statement true (T) or false (F)