Assume that Szmul Hertz has an MPC equal to 0.80 . If he normally earns $40,000 per year, but is laid off for part of 2000 and only earns $25,000 . his consumption for 2000 . according to Milton Friedman, will be
a. $16,000
b. $12,000
c. $32,000
d. $40,000
e. $25,000
C
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In the figure, the unregulated market equilibrium occurs at a price of ________ a ton and quantity of ________ tons
A) $100; 4,000 B) $150; 2,000 C) $150; 4,000 D) $225; 4,000 E) $100; 2,000
If an Albanian company hires a U.S.-based law firm, it is
A) insourcing, from a U.S.-perspective. B) using domestic outsourcing. C) changing into a multinational enterprise. D) vertically integrating.
The Coinage Act of 1792
a. designated both gold and silver as the monetary standard for the U.S. b. designated gold as the monetary standard for the U.S. c. designated silver as the monetary standard for the U.S. d. designated paper Treasury notes as the monetary standard for the U.S.
Compared to the outcome when the firms are price takers, competitive price-searcher markets will result in
a. a wider variety of products and higher prices. b. less product variety and higher prices. c. a wider variety of products and lower prices. d. less product variety and lower prices.