For perfectly competitive firms,
A. marginal revenue equals total revenue.
B. total revenue equals price.
C. marginal revenue equals price.
D. all of the above
Answer: C
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In the above figure, suppose the economy is initially on the demand for money curve MD1. What is the effect of an increase in the use of credit cards?
A) The demand for money curve would shift rightward to MD2. B) The demand for money curve would shift leftward to MD0. C) There would be a movement upward along the demand for money curve MD1. D) There would be a movement downward along the demand for money curve MD1.
Explain the interaction between inflation and tax revenues. Did the indexing of tax brackets in 1982 eliminate all of the negative effects of inflation on taxes?
What will be an ideal response?
All solutions to market failures in markets for public goods or common resources:
A. try to force the internalization of externalities. B. are not perfect, and total surplus cannot be maximized in these markets. C. need to be accepted by the affected parties to be effective. D. must be provided by the government.
Most of the technological advances in U.S. agriculture are initiated by the following, except:
A. Government-sponsored agencies B. Farmers C. Colleges and universities D. Suppliers of farm inputs