Which of the following would most likely suffer the least from the costs of inflation?
A) persons on fixed incomes
B) persons whose incomes rise more rapidly than inflation
C) firms that have to devote more time and labor to raising prices
D) an investor that has to pay higher taxes because of the inflation
Answer: B
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In the figure above, if pizza production is restricted to 5,000 pizzas a day, then marginal benefit ________ marginal cost, and ________ occurs
A) exceeds; overproduction B) exceeds; underproduction C) is below; overproduction D) is below; underproduction E) exceeds; efficient production
Holding everything else constant, a country's imports will decrease if the:
A) country's currency appreciates. B) country's currency depreciates. C) country's currency is revalued. D) none of the above.
Marginal revenue
a. Is the additional revenue incurred by selling one more unit b. Is the total revenue incurred by selling one more unit c. Is the total revenue incurred by selling all the firm's output d. Is the difference between total revenue and total costs
In the Stackelberg leadership model,
a. the leader earns a larger profit compared to the follower. b. the leader charges a higher price for its output compared to the follower. c. the follower produces a larger output compared to the leader. d. the follower charges a lower price for its output compared to the leader.