The country that suffered an extreme inflation rate of 89,700,000,000,000,000,000,000 percent in November 2008 was
a. England
b. Zimbabwe
c. Germany
d. Egypt
e. the former Soviet Union
B
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If a consumer is choosing the optimal combinations of two goods X and Y, and then the price of good Y decreases, this causes:
a. MU/P of good X to increase, so the consumer now must buy more X to find a new optimal combination. b. demand for good X to increase. c. MU/P of good Y to increase, so the consumer now must buy more Y to find a new optimal combination. d. MU/P of good Y to decrease, so the consumer now must buy more Y to find a new optimal combination. e. the demand for good X and good Y will not change.
Which of the following can shift the labor demand curve to the right?
a. Decrease in product price. b. Increase in wages. c. Decrease in wages. d. Decrease in the MP. e. Increase in productivity.
If the production of a good generates a detrimental externality, then at that level of production of the good under perfect competition,
a. MU = MSC. b. P < MPC. c. MPC < MSC. d. MPC > MSC.
In order to exercise control over the price of its product, a firm must be able to ________ competition.
A. not change B. maximize C. increase D. limit