Refer to the above table. What are total costs at an output of 3 units?
A. $270
B. $120
C. $150
D. $90
Answer: A
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In a business cycle boom, we expect an unusually ________ proportion of actual income to be transitory, thus an unusually ________ MPC operating in the short run, which ________ the income multiplier for the short run
A) high, low, reduces B) high, low, increases C) high, high, reduces D) low, low, increases E) low, high, reduces
In a sealed-bid, second-price auction, you should bid
A) your estimate of what others value the good at. B) one dollar more than your estimate of what the second-highest bid will be. C) your highest value. D) the common value of the good.
In a natural monopoly, throughout the range of market demand,
a. marginal cost exceeds average cost and therefore pulls average cost upward b. average cost exceeds marginal cost and therefore pulls marginal cost upward c. marginal cost is below average cost and therefore pulls average cost downward d. average cost is equal to marginal cost e. there are diseconomies of scale
Which of the following is not a determinant of Investment spending?
A. Real income B. Expected profitability C. Interest rates D. Taxes