For the period 1947-2012 in the United States, the money supply was
A) procyclical and leading.
B) procyclical and lagging.
C) countercyclical and leading.
D) countercyclical and lagging.
A
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Refer to Table 17-2. The marginal profit from hiring the second unit of labor is
A) $4,200. B) $1,960. C) $1,800. D) $1,450.
In which of the following situations would a negative externality most likely be involved?
A. It is night and Kenneth is sitting in his easy chair reading a novel by John Grisham. The lamp he is reading by has only a 40-watt light bulb. He is having a hard time reading. B. Alyson lives near an airport. At five o'clock in the morning every day she can hear the airplanes taking off and it awakens her. C. Lucy went to a fancy restaurant last night and ordered the most expensive meal on the menu. She hated it. D. Richard is taking an economics class from Professor Franklin. Professor Franklin often says things that confuse Richard.
An example of unplanned investment is
a. an unexpected fire requires that an entire factory be rebuilt. b. a bridge collapses and requires unexpected repair cost. c. machine tool companies are forced to install new equipment to be able to meet Japanese competition. d. None of these.
Price discrimination occurs when
a. firms maximize their profit by setting price equal to marginal cost. b. a seller charges different prices to different consumers for the same product or service. c. a seller charges the same price to consumers for a different product or service. d. a seller charges different prices to consumers, discriminating by race or gender of the consumer.