Refer to the accompanying table below. The average benefit of 4 units of activity is:Units of ActivityTotal CostTotal Benefit0$0$01$2$122$6$223$12$304$20$365$30$406$42$427$56$43
A. $10
B. $9
C. $4
D. $5
Answer: B
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"Lower ticket prices would lead to more people attending ballgames." This statement is a
A) macroeconomic statement. B) statement assessing the social interest versus the private interest. C) normative statement. D) statement that confuses marginal cost and sunk cost. E) positive statement.
Probably the most important factor affecting material well-being is
a. inflation rates. b. unemployment rates. c. budget deficits. d. growth in productivity. e. monopoly power.
Starting from short-run equilibrium, the following occurs: individuals expect higher (future) incomes and wage rates rise. What is the effect on the price level and Real GDP in the short run?
A) The price level rises and Real GDP rises. B) The price level falls and Real GDP falls. C) The price level rises, but the effect on Real GDP cannot be determined. D) Real GDP rises, but the effect on the price level cannot be determined. E) Real GDP falls, but the effect on the price level cannot be determined.
The joining of two or more firms competing in the same market with the same good or service:
a. Stockholm enterprise b. partnership c. vertical merger d. horizontal merger e. Pineapple Ring