A person will become informed on a political issue if
A) it is considered an important issue to society at large.
B) he perceives the benefits of becoming informed as greater than the costs of becoming informed.
C) it is regularly discussed on television news shows.
D) it is regularly written about in the daily newspapers.
E) none of the above
B
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If the government wishes to decrease GDP by $2,000b, and the MPC is 0.6, it should:
A. increase its spending by $1,200b. B. decrease its spending by $1,200b. C. increase its spending by $800b. D. decrease its spending by $800b.
When a monopolist chooses the level of output where marginal cost equals marginal revenue the price:
A. equals average revenue. B. is lower than average revenue. C. equals marginal revenue. D. is lower than marginal revenue.
In a court decision in June 2001, the Federal District Count of Appeals in Washington, D.C. found that Microsoft had violated the
A. Robinson-Patman Act. B. Celler-Kefauver Act. C. Sherman Act. D. Clayton Act.
The foreign exchange market is
A. the increase in the exchange value of one nation's currency in terms of an other nation. B. a market in which exchange rates are allowed to fluctuate in the open market in response to changes in supply and demand. C. the decrease in the exchange value of one nation's currency in terms of another nation. D. a market in which households, firms, and governments buy and sell national currencies.