Which of the following would be the source of a "real" business cycle?
A) changes in technology B) anticipated expansionary monetary policy
C) unanticipated contractionary monetary policy D) unanticipated expansionary monetary policy
A
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Refer to Table 10.1. The value of the tax multiplier in this economy is
A) 0. B) -2. C) -4. D) -5.
The price elasticity of demand for a rental home in Luxury Resorts in the summer is 1.25 and is 2.25 in the spring. If Luxury Resorts faces a constant marginal cost of $500 per home rental, what is the profit-maximizing peak-load price to charge in the summer?
A) $1,250 B) $5,000 C) $900 D) $2,500
According to quantitative estimates of the burden of the Navigation Acts on the colonies, what can be said about the (net) effect of the Acts?
a. The Navigation Acts placed a serious economic burden on the colonies, with estimates of this burden equaling roughly 40 percent of 1770s GNP. b. The Navigation Acts were the critical reason why colonists revolted against the British. c. After accounting for the protection provided by the British, there was very little economic burden to colonists from the Navigation Acts. d. Existing data do not allow for credible estimates of the economic burden of the Navigation Acts on the colonies.
Table 10-2 ? Firm A Firm B Firm C Firm D Total revenue (TR) $ 100 150 100 100 Total variable cost (TVC) 180 160 60 140 Short-run nonvariable cost 60 20 60 100 ? Refer to Table 10-2. Which firm is better off staying in business in the short run?
A. Firm A B. Firm B C. Firm C D. Firm D