If a monopoly is operating along the portion of its demand curve where marginal revenue is positive, its
A) total revenue increases when price decreases.
B) total revenue decreases when price decreases.
C) total revenue remains the same when price decreases.
D) total revenue is zero.
A
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The recession that became the Great Depression began
A) two months prior to the stock market crash of 1929. B) with the stock market crash of 1929. C) one year after the stock market crash of 1929. D) with the banking panics of the early 1930s.
Which of the following is an implicit cost?
a. salaries paid to owners who work for their own firm b. interest on money borrowed to finance equipment purchases c. cash payments for raw materials d. wages paid to hourly employees e. foregone interest on money taken from bank accounts to buy equipment
Holding demand constant, an increase in supply leads to
A) lower prices and higher quantity demanded. B) lower prices and lower quantity demanded. C) higher prices and higher quantity demanded. D) higher prices and lower quantity demanded.
By approximately how much would the federal government have to raise each worker's annual taxes to eliminate the current federal budget deficit?
A. about $8,000 per year B. about $50,000 per year C. between $500 and $1,000 per year D. between $50 and $100 per year