A monopolist faces an upward-sloping marginal cost curve. Its profit-maximizing quantity will be
a. at the minimum point of the marginal cost curve
b. less than the (total) revenue-maximizing quantity
c. equal to the (total) revenue-maximizing quantity
d. in the unit elastic segment of the demand curve
e. in the inelastic segment of the demand curve
B
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When the U. S. federal government runs a budget deficit, it borrows money by selling:
a. Treasury bills, notes, and bonds. b. publicly owned land. c. its gold reserves. d. financial assets located in foreign banks.
What is the potential money multiplier if the reserve requirement is 4%?
a) 2.5 b) 4 c) 14 d) 25
To increase society's total welfare (social efficiency), a production process that produces a negative externality should be:
A. taxed. B. provided by the government. C. ignored. D. subsidized.
Per capita GDP is
A. A dollar measure of the economic growth rate of a country. B. The value of the factors of production used to produce output in a country. C. The dollar value of GDP divided by total population. D. The sum of consumer goods, investment goods, government services, and net exports.