The official dating of the most recent recession places its timing as
A) 2007.
B) 2007-2009.
C) 2008.
D) 2008-2009.
D
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Using the data in the table above, the growth rate of real GDP has
A) increased from year to year. B) increased more rapidly from year to year. C) remained constant from year to year. D) slowed from year to year. E) probably changed, but more information is needed about the price level to determine by how much it has changed.
A breakdown of financial markets can result in
A) financial stability. B) rapid economic growth. C) political instability. D) stable prices.
To maximize profits, the monopolist should produce at which
A) MR = MC. B) MC intersects the demand curve. C) total revenue is maximized. D) total costs are minimized.
If a monopolist increases quantity by one unit, _____
a. the monopolist's marginal revenue will fall b. the price of all units will increase c. the marginal revenue of selling the last unit will be more than its price d. the marginal revenue curve will rise above the demand curve