Using the information in the table shown, if you were to graph the first two columns, you would have graphed which curve?
This table represents the revenues faced by a monopolist.
A. Marginal revenue
B. Market supply
C. Market demand
D. Total productivity
C. Market demand
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Policies to keep inflation in check ________
A) are, typically, fiscal policies B) are a potential cause of high unemployment C) are unlikely to be needed, so long as government spending remains high D) include increasing the quantities of money and saving E) are desirable in the short run, but may produce bad long-run outcomes
Business cycles
a. no loner exist in the new economy. b. can be eliminated with the appropriate use of fiscal and monetary policies. c. are usually of equal intensity and length. d. are a natural consequence of the workings of a free market economy.
The private sector cost of tax revenues is equal to the
a. tax revenue collected by government from individuals in the economy. b. income that could have been earned by government employees if they had worked in the private sector. c. difference between government expenditures and tax revenues. d. tax revenue plus the cost of tax compliance and the excess burden of taxation.
When a profit-maximizing firm is earning profits, those profits can be identified by
a. P × Q. b. (MC - AVC) × Q. c. (P - ATC) × Q. d. (P - AVC) × Q.