Suppose the table below describes the demand for a good produced by monopolist.PriceQuantity$101$92$83$74$65$56$47The monopolist's total revenue from selling 3 units is ________, and the monopolist's marginal revenue from selling the 3rd unit is ________.
A. $24; 8
B. $24; 6
C. $28; 8
D. $52; 1
Answer: B
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Since World War II, the relative importance of raw materials, including oil, in total world trade
A) remained constant. B) increased. C) decreased. D) fluctuated widely with no clear trend E) increased slightly before dropping off.
Which of the following affected aggregate demand during the recession of 2008-2009?
a. a decline in residential construction and a decrease in lending b. a decline in residential construction but not a decrease in lending c. a decrease in lending but not a decline in residential construction d. neither a decrease in residential construction nor a decrease in lending
On average, prices rise __% in that typical 12-day shopping window
Fill in the blank(s) with the appropriate word(s).
Which of the following is a true statement?
A. Most economists believe that increases in real GDP actually produce decreases in overall economic well-being because of spillover costs. B. Economists who support economic growth say that it is the most practical route to the higher standards of living the vast majority of people desire. C. Mainstream economists disagree as to whether the rate or productivity growth was higher between 1995 and 2009 than between 1973 and 1995. D. Most economists believe that the recent productivity acceleration implies an end to the business cycle.