Sticky wages reduce unemployment.
Answer the following statement true (T) or false (F)
False
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Suppose the private sector wishes to hold a constant level of real high-powered money
This means that with an ongoing inflation of p percent, each year the government treasury can obtain goods from the private sector in exchange for ________ p times the existing high-powered money, a government revenue source called ________. A) creating, seignorage B) creating, transfer payments C) collecting, seignorage D) collecting, transfer payments
The government should set the price for natural monopolies at their:
A. average total cost. B. marginal cost. C. average variable cost. D. fixed cost.
It is impossible for total utility to be ________ when marginal utility is ________.
A. increasing; decreasing B. positive; negative C. decreasing; positive D. increasing; increasing
St. Charles Hospital, located in an upper-income neighborhood of a large city, recently received a restored mansion as a gift from an appreciative patient. The board of directors decided to remodel the mansion and use it as recuperative quarters for patients willing to pay for luxurious accommodations. The cost to the hospital of using the mansion includes
A. nothing because it was a gift. B. how much the hospital pays for upkeep--taxes, insurance, utilities, maintenance, etc. C. how much the hospital would receive if it rented or sold the mansion. D. both b and c