An increase in foreign investment in Brazil's mining industry will increase the capital stock in Brazil. Holding labor and total factor productivity constant, continued increases in the capital stock will lead to
A) larger and larger increases in real GDP.
B) smaller and smaller increases in real GDP.
C) larger and larger decreases in real GDP.
D) small increases, followed by small decreases, in real GDP.
B
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Refer to Figure 18.4. With a tariff or quota, what is the equilibrium price of gloves in Duckland?
A) $8 B) $9 C) $10 D) $11
Suppose the nominal interest rate this year is 6.5% and that the economy experiences 2.3% deflation. What is the real interest rate?
Answer the following statement true (T) or false (F)
1) Supply-side market failures occur because it is impossible in certain cases for sellers to charge consumers what they are willing to pay for a product. 2) When a supply-side market failure occurs, the costs are greater than the benefits for the last unit(s) of output produced. 3) Along a demand curve, product price and consumer surplus are inversely related. 4) Along a supply curve, product price and producer surplus are inversely related.
Refer to the table below for a monopolist. If the monopolist perfectly price-discriminated and sold each unit of the product at the maximum price the buyer of that unit would be willing to pay, and if the monopolist sold 4 units, then total revenue would be:
The following question is based on the demand and cost data for a pure monopolist given in the table below.
A. $600
B. $900
C. $1000
D. $1400