According to your textbook, what is the general rule to follow in order to maximize net revenue?
A) Take any action if, but only if, the expected marginal revenue exceeds the expected marginal cost.
B) Take any action you expect will not be copied by your competitors.
C) Take as many innovative actions as you can, and leave the copying up to smaller firms in the market because they are least likely to increase their market share.
D) Charge the lowest possible price.
A
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Currency held inside the banking system is included in the M1 measure of the money supply
Indicate whether the statement is true or false
Refer to Figure 24-4. Given the economy is at point A in year 1, what is the difference between the actual growth rate in GDP in year 2 and the potential growth rate in GDP in year 2?
A) 0.3% B) 1.1% C) 2.7% D) 3.7%
A firm's demand curve for labor shifts when the
a. price of its output changes. b. wage rate changes. c. number of available workers changes. d. All of the above are correct.
Over the past 50 years in the United States, tax revenues as a percentage of GDP have tended to be in the __________________ percent range
A) 1 to 9 B) 10 to 14 C) 15 to 19 D) 20 to 24 E) 25 to 30