Exhibit 7-14 Cost curves
In Exhibit 7-14, economies of scale only exist for output levels up to:
A. 1,000.
B. 2,000.
C. 3,000.
D. 4,000.
Answer: B
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When a government increases an effective price ceiling for a product
A) the shortage in the market will be reduced. B) the shortage in the market will be increased. C) the surplus in the market will be reduced. D) the surplus in the market will increase.
To determine what a buyer would be willing to pay for a given bond, you must first ________________ by combining its face value, interest rate, maturity date, and market interest rates.
a. calculate its certificate of deposit b. ensure it is a high-yield bond c. determine the bond’s coupon rate d. compute the bond’s present value
If a firm finds that increases in output lead to increases in long-run average total cost, then it must be experiencing _________ which could be caused by ___________
Fill in the blank(s) with the appropriate word(s).
If the marginal propensity to consume is .80 and both taxes and government purchases increase by $50 billion, real GDP will
A. decrease by $10 billion. B. increase by $50 billion. C. increase by $10 billion. D. decrease by $50 billion.