The change in total revenues resulting from a change in output of one unit is
A) average revenue.
B) marginal revenue.
C) economic revenue.
D) diminishing revenue.
Answer: B
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The United Auto Workers bargained for higher wages and more benefits for autoworkers. As a result of the higher wages and increased benefits,
i. the quantity of new automobiles supplied decreases. ii. the supply of new automobiles decreases. iii. the supply of new automobiles increases. A) only i B) only ii C) only iii D) both i and ii E) Neither i, ii, nor iii is correct.
What financial innovations helped banks to get around the bank branching restrictions of the McFadden Act?
What will be an ideal response?
Suppose the CPI was 104 in 1967, and suppose currently the CPI is 390 . According to the CPI, $10 in 1967 purchased the same number of goods and services as
a. $28.88 purchases today. b. $37.50 purchases today. c. $42.64 purchases today. d. $104.00 purchases today.
If government spending rises but the central bank changes the money supply to prevent income from changing, then
a. both consumption and investment will remain unchanged. b. consumption rises and investment falls. c. investment falls but consumption rises. d. both consumption and investment rises.