Fiscal policy involves changes in _____
a. government spending
b. the amount lent by banks
c. the interest rate
d. the capital markets
a
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The market supply curve for any product:
a. always depends on the market demand for that product. b. depends on the general income level of the consumers in the market. c. is a summation of individual firms' supply curves. d. equals the total revenue generated through sale of the commodity. e. is affected by the prices of related products.
Raiman's Shoe Repair also produces custom-made shoes. When Mr. Raiman produces 12 pair a week, the MC of the twelfth pair is $84, and the MR of that unit is $70 . What would you advise Mr. Raiman to do?
a. shut down b. produce more custom-made shoes c. stay at 12 pairs a week d. produce fewer custom-made shoes e. decrease price
Based on the following information, what is the amount of public saving? ReceiptsExpendituresFederal and Government2,5002,000State and Local Governments1,2001,500
A. -300 B. +200 C. +3,700 D. +2,500
When demand is price-inelastic, ceteris paribus, an increase in
A. Price leads to greater total revenue. B. Total revenue indicates a reduction in price. C. Price leads to lower total revenue. D. Total revenue means quantity rises.