When a firm has the power to establish its price
A) P = MR.
B) P = MC.
C) P > MR.
D) P < MR.
C
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When both worker productivity and the price of the output being produced increase in an LDC, we can expect labor
a. demand to increase b. demand to decrease c. supply to increase d. supply to decrease e. supply and demand to shift out to the right
Which of the following is a function of money?
a. a unit of account b. a store of value c. medium of exchange d. All of the above are correct.
The goal of expansionary fiscal policy is to:
A. increase the money supply. B. cool off the economy. C. reduce interest rates. D. stimulate the economy.
The size of the underground economy would tend to increase if the government of a country
A) decreased government regulations on businesses. B) increased income tax rates. C) legalized prostitution. D) legalized marijuana.