Since 1930, interest payments on past federal government borrowings were the highest in the 1980s and 1990s
a. True
b. False
Indicate whether the statement is true or false
True
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When the economy is near the natural unemployment rate, most adult males looking for work are experiencing ________ unemployment
A) turnover B) mismatch C) cyclically D) seasonally
In the U.S., one example of a cartel that is legal is
A) the railroads, including Union Pacific. B) the oil industry. C) Major League Baseball. D) None, all cartels are prohibited.
Refer to the graph below representing the market demand curve for a monopolist’s output. Which of the following prices shown on the graph should the monopolist charge if it wishes to maximize its total revenue?
a. $12
b. $10
c. $8
d. Any of the above because total revenue does not change with a change in price.
(Consider This) An unprofitable motel will stay open in the short run if:
A. price (average nightly room rate) exceeds average variable cost. B. marginal revenue exceeds marginal cost. C. price (average nightly room rate) exceeds average fixed cost. D. marginal revenue exceeds price.