Table 21.4Output (Units per Day)Total Cost (Dollars per Day)016130242358478At 4 units of output in Table 21.4, total fixed costs are
A. $78.00.
B. $19.50.
C. $20.00.
D. $16.00.
Answer: D
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In the Solow model, if f(k) = 2k0.5, s = 0.25, n = 0.1, and d = 0.4, what is the value of k at equilibrium?
A) 1 B) 2 C) 3 D) 4
The aggregate demand curve shifts to the right when the Fed:
A. increases its target inflation rate, reflected by a downward shift in the Fed's policy reaction function. B. decreases real interest rates in response to inflation, but does not change its target inflation rate or the Fed's policy reaction function. C. decreases its target inflation rate, reflected by an upward shift in the Fed's policy reaction function. D. increases real interest rates in response to inflation, but does not change its target inflation rate or the Fed's policy reaction function.
The interest rate the Federal Reserve charges a bank when it borrows reserves from the Fed is called the
A) federal funds rate. B) prime rate. C) market interest rate. D) discount rate. E) borrowing rate.
Most firms produce where marginal revenue is equal to marginal cost, but firms in a monopolistically competitive industry instead choose output where average cost is equal to demand.
Answer the following statement true (T) or false (F)