When only one buyer has access to a particular labor market,
A. There is no seller concentration.
B. A monopoly exists.
C. A monopsony exists.
D. There is no buyer concentration.
Answer: C
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Which of the following is one explanation as to why the aggregate demand curve slopes downward?
A) Decreases in the price level raise the interest rate and increase consumption spending. B) Decreases in the price level raise the interest rate and increase investment spending. C) Decreases in the price level raise real wealth and increase consumption spending. D) Decreases in the U.S. price level relative to the price level in other countries lower net exports.
If a small open economy reduces its budget deficit, the result will be:
A) a lower world real interest rate, but no change in the domestic real interest rate B) a lower domestic real interest rate, but no change in the world real interest rate C) lower domestic and world real interest rates D) no change in either the domestic or world real interest rate
Suppose there are only two firms in an economy: Rolling Rawhide produces rawhide and sells it to Chewy Chomp, Inc, which uses the rawhide to produce and sell dog chews. With each $1 worth of rawhide that it buys from Rolling Rawhide, Chewy Chomp, Inc produces a dog chew and sells it for $2.50 . Neither firm had any inventory at the beginning of 2014 . During that year, Rolling Rawhide produced
enough rawhide for 2000 dog chews. Chewy Chomp, Inc bought 90% of that rawhide for $1800 and promised to buy the remaining 10% for $200 in 2015 . Chewy Chomp, Inc produced 1800 dog chews during 2014 and sold each one during that year for $2.50 . What was the economy's GDP for 2014? a. $3,800 b. $4,500 c. $4,700 d. $5,000
Refer to the information provided in Figure 6.9 below to answer the question(s) that follow.
Figure 6.9Refer to Figure 6.9. The marginal utility of the second video game rental is
A. 8. B. 10. C. 25. D. 40.