Saving to meet long-term objectives-such as retirement, college attendance, or to purchase a home,-is called ________ saving.
A. public
B. precautionary
C. bequest
D. life-cycle
Answer: D
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One argument for having the government regulate natural monopolies is that without regulation ________.
A. the industry would become perfectly competitive and there would be too many firms in the market to achieve efficiency B. these monopolies produce at a level where price is greater than marginal cost C. these monopolies produce at a level where price is less than marginal cost D. these monopolies usually produce things that are potentially harmful to our health
The marginal revenue curve for a monopolist is the same as its demand curve
a. True b. False Indicate whether the statement is true or false
Upland has a population of 15,000, of whom 9,000 work 8 hours a day to produce real output of $342,000 . Lowland has a population of 8,000, of whom 7,000 work 7 hours a day to produce real output of $171,500
a. Upland has higher productivity and higher real GDP per person than Lowland. b. Upland has higher productivity but lower real GDP per person than Lowland. c. Upland has lower productivity but higher real GDP per person than Lowland. d. Upland has lower productivity and lower real GDP per person than Lowland.
Based on this graph, the year with the biggest deficit took place in the ______.
a. 1940s
b. 1970s
c. 1990s
d. 2000s