For a profit-maximizing monopolist
A. P = MC.
B. P = ATC.
C. P = MR.
D. P > MC.
Answer: D
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Which of the following are not approaches to resolving the principal-agent problem?
a. ex ante incentive alignment b. deferred stock options c. ex post governance mechanism d. straight salary contracts e. monitoring by independent outside directors
The $787 billion stimulus was broken down as roughly ______ tax cuts, roughly ______ greater government purchases, and roughly ______ was transfer payments to help those affected by the recession, along with state and local governments
a. 20 percent, 40 percent, 40 percent. b. 40 percent, 20 percent, 40 percent. c. 30 percent, 50 percent, 20 percent d. 50 percent, 30 percent, 20 percent. e. 33 percent, 33 percent, 33 percent.
Macroeconomics is the branch of economics that focuses on:
a. broad issues such as growth, unemployment, inflation, and trade balance. b. the actions of particular agents within the economy, like households, workers, and business firms. c. the means of production (resources and businesses) that are owned and operated by private individuals or groups of private individuals. d. workers or firms, and whether they are well suited within the overall production process.
When economists are trying to help improve the world, they are
a. in the realm of positive economics rather than normative economics. b. in the realm of macroeconomics rather than microeconomics. c. scientists. d. policy advisers.