In the United States, the supply curve for human organs currently is:
a. vertical
b. horizontal.
c. downward sloping.
d. upward sloping.
a
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The demand curve facing a single-price monopoly
A) lies below the marginal revenue curve. B) lies above the marginal revenue curve. C) is the same as only the marginal revenue curve. D) is the same as only the marginal cost curve. E) is the same as both the marginal revenue curve and the marginal cost curve.
Why don't consumers work in the two-period model?
A) It's a convenient simplification. B) It would make no difference to the model if consumers could work. C) People who participate in real-world credit markets do not work. D) We don't know how to include workers in the model.
If the equilibrium exchange rate between U.S. dollars and Japanese yen is $0.008 = 1 yen, but currently the exchange rate is $0.007 = 1 yen, then with flexible exchange rates the dollar price of a yen will __________, and the dollar will __________
A) increase; appreciate B) decrease; appreciate C) increase; depreciate D) decrease; depreciate
The value of a producer's output minus the value of all intermediate goods used in the production of that output is called the producer's
A) net output. B) accounting profit. C) value added. D) profit margin.