The above figure shows the cost curves for a competitive firm. If the profit-maximizing level of output is 40, price is equal to
A) $0.
B) $15.
C) $10.
D) $11.
B
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What is a "currency drain?" How and why does it affect the money multiplier?
What will be an ideal response?
If a country adopts another country's currency, it is called
A) dollarization. B) a crawling peg. C) a dirty float. D) monetary order.
In a study of whether prices are sticky or not, Alan Blinder supervised interviews of corporate executives on the frequency with which their firms change prices and found that
a. 55 percent of firms changed prices only once a year or less. b. over 20 percent of the firms changed prices more than 12 times per year. c. 10 percent of companies changed prices 4 to 12 times per year. d. there is not a considerable departure from auction-market behavior.
An increase in human capital
a. is of secondary importance to economic growth compared to physical capital. b. causes the production function to shift downward and become flatter. c. causes the production function to shift upward. d. causes the production function to shift downward. e. can be separated from labor.