Net public debt is equal to
A) the gross public debt minus current year tax revenue collection.
B) the gross public debt minus taxes paid by foreign corporations on their profits made in the United States.
C) the gross public debt plus all governmental interagency borrowing.
D) the gross public debt minus all governmental interagency borrowing.
D
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Jane's Garage Cleaning is a perfectly competitive firm that currently cleans 40 garages a week. Jane's marginal cost is less than the price she charges. Jane can increase her profit if she
A) charges a higher price. B) charges a lower price. C) cleans fewer than 40 garages a week. D) cleans more than 40 garages a week.
Prime Pharmaceuticals has developed a new asthma medicine, for it has a patent. An inhaler can be produced at a constant marginal cost of $2/inhaler
The demand curve, marginal revenue curve, and marginal cost curve for this new asthma inhaler are in the figure above. With its patent giving it a monopoly for its new inhaler, if it is a single-price monopoly, Prime Pharmaceuticals will produce ________ inhalers and set a price of ________ for each inhaler. A) 16 million; $2 B) 10 million; $5 C) 8 million; $6 D) 8 million; $2
When the prices of final goods and services increase more quickly than the prices of inputs, we say that:
A. the prices of some inputs are sticky. B. the economy must be in the long run. C. the prices of some final goods are sticky. D. the economy is inefficient.
In which of the following instances is the effect on equilibrium price (whether it rises, falls, or remains unchanged) dependent on the magnitude of the shifts in supply and demand?
What will be an ideal response?