A nondiscriminating monopolist will find that marginal revenue:
A. is less than average revenue or price.
B. is identical to price.
C. exceeds average revenue or price.
D. is sometimes greater and sometimes less than price.
Answer: A
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__________ will change for a number of reasons, including movements in income, taxes, expectations about future income, and changes in wealth levels.
a. Supply b. Price levels c. Consumption d. Demand
Assume that the central bank purchases government securities in the open market. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the real GDP and net nonreserve-related international borrowing/lending in the context of the Three-Sector-Model?
a. Real GDP falls, and net nonreserve-related international borrowing/lending becomes s more negative (or less positive). b. Real GDP rises, and net nonreserve-related international borrowing/lending becomes s more negative (or less positive). c. Real GDP falls, and net nonreserve-related international borrowing/lending becomes s more positive (or less negative). d. Real GDP and net nonreserve-related international borrowing/lending remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
On the graph above, what area represents consumer surplus when the price is $10?
A. A B. B C. C D. A and B E. B and C
A subsidy:
A. has a larger impact on a market than a tax of the same amount. B. has a smaller impact on a market than a tax of the same amount. C. is the reverse of a tax. D. has the same impact on a market as a tax.