Because Federal Reserve Notes (paper currency) are legal tender,
A) U.S. creditors must accept them in payment of debts.
B) U.S. workers must accept them as payment for labor services.
C) U.S. firms must accept them as payment for goods and services.
D) All of he above are correct.
A
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Suppose Always There Wireless serves 100 high-demand wireless consumers, who each have a monthly demand curve for wireless minutes of QdH = 200 - 100P, and 300 low-demand consumers, who each have a monthly demand curve for wireless minutes of QdL = 100 - 100P, where P is the per-minute price in dollars. The marginal cost is $0.25 per minute. If Always There Wireless charges the highest fixed fee that it can without losing the low-demand consumers, which of the following is the most profitable price per minute?
A. $0.45 B. $0.49 C. $0.53 D. $0.57
Suppose that IS and LM intersect at full-employment output. A rightward shift of IS will be followed by a __________ price level that shifts LM to the __________ in a return to full-employment
A) rising; right B) rising; left C) falling; right D) falling; left
Use sticky-wage theory to explain why an increase in the expected price level shifts the aggregate supply curve
Which of the following is an example of a negative network externality?
A. Playing terrible music very loudly in your dorm room B. Using a social media site like Facebook C. Driving on a crowded highway during rush hour D. Planting pretty flowers in front of one's house