If the demand curve a monopolist faces is perfectly elastic, then the ratio of the firm's price to the marginal cost is
A) 0.
B) 1.
C) 2.
D) None of the above—the answer cannot be determined.
B
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An increase in the price level results in a(n) ________ in the quantity of real GDP demanded because ________
A) decrease; a higher price level increases consumption, investment, and net exports. B) increase; a higher price level increases consumption, investment, and net exports. C) decrease; a higher price level reduces consumption, investment, and net exports. D) increase; a higher price level reduces consumption, investment, and net exports.
Which statement is true?
A. There is no evidence whatsoever to support the contention that women, blacks, Hispanics, and other minorities are victims of employment discrimination. B. The relatively lower wages earned by women and minorities can be explained entirely by employment discrimination. C. The poverty of women, blacks, and Hispanics can be explained almost entirely by their low earnings. D. None of these statements are true.
__________ would cause a rightward shift of the aggregate demand curve.
a. A decrease in the expected price level b. A decrease in foreign income c. An increase in expected income d. A decrease in real wealth e. An increase in the value of the dollar
Refer to the above table. If the price of the good produced is $9, the marginal revenue product of the 13th worker is
A. $684. B. $63. C. $36. D. $81.