Autonomous expenditure is not influenced by
a) the price level
b) the interest rate
c) real GDP
d) any other variable
c) real GDP
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Can a firm achieve technological efficiency without achieving economic efficiency?
What will be an ideal response?
Advertising costs are ________ costs and the per unit cost of advertising ________ as production increases
A) fixed; increases B) variable; increases C) fixed; decreases D) variable; does not change
It has been observed that people surveyed shortly after major air crashes estimate higher probabilities that a given flight will crash than people surveyed during intervals without any. The error in reasoning observed in this experiment results from:
a. availability heuristics. b. representative heuristics. c. population heuristics. d. selection bias.
The demand for cars in a certain country is given by: D = 20,000 - P, where P is the price of a car. Supply by domestic car producers is: S = 5,000 + 0.5. If this economy is open to trade, and the world price of a car is $6,000, and the government imposes a quota allowing 3,000 cars to be imported, then domestic price of the car will be ________.
A. $8,000 B. $6,000 C. $5,000 D. $10,000