A price-discriminating firm will always maximize profit by following the condition that
A. MR > MC.
B. MR > P.
C. MRa = MRb = MC.
D. MR = ATC.
Answer: C
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Suppose real money demand is 1000, real output is 6000, and the price level is 200. What is the level of velocity in this economy?
A) 2 B) 3 C) 6 D) 12
When numerous Japanese companies buy $100,000,000 worth of goods or services from U.S. producers, ceteris paribus, there will be
A) appreciation in the value of the yen against the dollar. B) depreciation in the value of the yen against the dollar. C) depreciation of the dollar against the yen. D) no change in values of the currencies.
Wage contracts force businesses to adjust wages rather than employment in response to an unexpected change in aggregate demand
a. True b. False Indicate whether the statement is true or false
What is the unemployment rate in a town in which 65,400 persons are employed and 11,000 are unemployed?
a. 20.2 % b. 16.8% c. 14.4% d. 11%