If a firm's managers inappropriately decide to operate where total revenue is maximized, they will continue to increase output
a. as long as marginal revenue exceeds marginal cost
b. as long as marginal cost exceeds marginal revenue
c. as long as the total revenue curve is above zero
d. as long as the marginal revenue curve is above the horizontal axis
e. until the total revenue curve intersects the total cost curve
D
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Inflation inertia is the tendency for inflation to:
A. increase when the Fed decreases interest rates. B. decrease when the Fed increases interest rates. C. change relatively slowly from year to year. D. equal zero.
Anita is the retired president of Claddagh College and currently serves on the board of directors of the Patrician Pharmaceutical Company. Anita is considered ________ of the company
A) a silent partner B) an outside director C) a managing director D) an inside director
A telephone company that charges both a monthly fee plus a price per minute used are employing:
A. price discrimination based on observable customer characteristics. B. perfect price discrimination. C. a two-part tariff. D. the profit-maximizing rule.
Research by Reinhart and Rogoff indicate that most of the increase in national debt as a result of a financial crisis is due to
A) government bail outs of financial institutions. B) increase spending on social welfare programs. C) government stimulus programs. D) sharp declines in tax revenues.