Assume that the growth rate of real GDP in Astoria is 7.5%. Assume the growth rate of velocity is 0%
If Astoria's current annual inflation rate of 5.99%, the growth rate of the money supply will be
A) -1.51%.
B) 1.51%.
C) 5.99%.
D) 13.49%.
D
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The Sandy Deli operates near a college campus. It has been selling 325 sandwiches a day at $1.75 each and is considering a price cut. It estimates 450 sandwiches would sell per day at $1.50 each. Calculate the marginal revenue of such a price cut and the elasticity between the two points.
What will be an ideal response?
When a firm faces a perfectly competitive market and buys its inputs from perfectly competitive markets, the only choice the firm has to affect its profits is to:
A. increase its selling price. B. change the quantity it produces. C. decrease its cost of production lower than other firms. D. decrease the selling price.
Implicit costs can be defined as
A) accounting profit minus explicit cost. B) the non-monetary opportunity cost of using the firm's own resources. C) the deferred cost of production. D) total cost minus fixed costs.
(Consider This) During the Great Recession of 2007-2009, both real interest rates and investment spending declined. This suggests that:
A. the investment demand curve was positively sloped during this period. B. purchases of capital from abroad increased, and these were not reflected in investment spending figures for that period. C. firms were optimistic about future sales. D. the investment demand curve shifted inward.