Which of the following persons is most likely to become informed on the National Endowment for the Arts?
A) an attorney
B) a mayor of a city
C) a farmer
D) a student of agriculture
E) a sculptor
E
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In the Keynesian model, an increase in government spending increases
A) the money supply by an equal amount. B) the money supply by a multiple amount. C) aggregate demand by an equal amount. D) aggregate demand by a multiple amount.
Financial markets are:
A. in many ways the purest expression of the market mechanism. B. a powerful tool for the efficient allocation of scarce resources. C. a global marketplace where sophisticated investors make billion-dollar decisions. D. All of these statements are true.
Monopolistic competition is an
a. inefficient market structure because there is deadweight loss. b. inefficient market structure because price exceeds marginal cost. c. efficient market structure because free entry drives long-run profits to zero. d. Both a and b are correct.
A monopolist has a marginal revenue curve given by MR = 102 - Q, and a total cost curve given by TC = Q2 + 16. The monopolist's profit maximizing price and quantity are ________, ________ respectively.
A. 85; 34 B. 52; 50 C. 77; 50 D. 100; 2