When actual output increases the potential output, _____.
a. more resources become unemployed.
b. prices remain constant
c. prices tend to increase.
d. nominal GDP decreases.
e. resource prices decrease.
c
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In the above table, if the marginal factor cost is $48, how many workers would be hired?
A) 3 B) 4 C) 5 D) 6
New England shippers faced higher labor costs than English shippers
a. in trade between the Southern colonies and England. b. in trade between the West Indies and England. c. in trade between New England and England. d. in all trade with England.
The period from 1977 through 1989 saw a wave of corporate mergers in the U.S. These mergers were characterized by
a. the use of junk bonds for financing buyouts. b. the low debt-to-equity ratios of the resulting firms. c. resulting firms that focused on "core competencies" rather than diversification. d. a "buyers' market" in which acquiring firms could purchase the stock of takeover targets for less than market value. e. All of the above.
In the short run, the monopolist should continue to produce whenever
a. price is greater than zero b. price is less than average total cost c. price is greater than average variable cost d. price divided by average total cost exceeds the ratio of marginal cost to average cost at the optimal output e. price is less than average variable cost at the optimal output