New classical economists contend that an unexpected increase in the money supply will:
a. increase the unemployment rate in the short run.
b. reduce the unemployment rate in the short run.
c. cause no short-run change in the unemployment rate.
d. reduce the unemployment rate in the long run.
e. increase the unemployment rate in the long run.
b
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To maximize profit, the monopolist produces on the ________ portion of its demand where ________
A) elastic; P = MC B) elastic; MR = MC C) inelastic; P = MC D) inelastic; MR = MC
The price tag on a tennis ball in 1975 read $0.10, and the price tag on a tennis ball in 2005 read $1.00 . The CPI in 1975 was 52.3, and the CPI in 2005 was 191.3 . The price of a 1975 tennis ball in 2005 dollars is
a. $0.03. b. $0.27. c. $0.37. d. $1.00.
If a one percent increase in the price of oranges leads to a five percent increase in the quantity supplied, the price elasticity of supply for oranges is ________.
A. 1/2 B. 5 C. 1/5 D. 2
How much is the concentration ratio in this industry?
