For a monopolist:
a. price equals average total cost.
b. price is above marginal revenue.
c. marginal revenue equals zero.
d. marginal cost equals zero.
e. average total cost equals marginal cost.
b
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Refer to the table above. The government sector balance is a
A) $900 billion surplus. B) $500 billion deficit. C) $2,900 billion trade deficit. D) $2,900 billion balanced budget. E) $900 billion deficit.
In the specific factors model, the effects of trade on welfare overall are ________ and for fixed factors used to produce the imported good they are ________
A) positive; negative B) positive; positive C) negative; positive D) ambiguous; positive E) positive; ambiguous
A fiscal stimulus was initiated by President Obama in response to the economic downturn of 2008-2009 . At that time, the president's economists estimated the multiplier to be
a. 3.2 for government purchases and 2.0 for tax cuts. b. 2.4 for government purchases and 1.4 for tax cuts. c. 1.6 for government purchases and 1.0 for tax cuts. d. 1.6 for government purchases and 0.4 for tax cuts.
Refer to the diagram, in which solid arrows reflect real flows; broken arrows are monetary flows. Flow (3) might represent:
A. government salaries paid to school teachers.
B. property tax payments.
C. a state university's purchase of computers.
D. social security payments to retirees.