The interest rate on seasonal credit equals
A) the federal funds rate.
B) the primary credit rate.
C) the secondary credit rate.
D) an average of the federal funds rate and rates on certificates of deposits.
D
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Games with a noncooperative equilibrium:
A. always result in a negative-negative outcome. B. always result in a positive-positive outcome. C. can result in either a positive-positive or negative-negative outcome. D. always result in a positive-negative outcome (zero-sum).
In the long run, the economic profit of Hoot's Pump Chicken 'n' Ribs, a monopolistic competitor,
a. is not eliminated because competition is not perfect b. is not eliminated because the demand curve slopes downward c. is eliminated because of new firms entering the industry d. is eliminated because of firms leaving the industry e. is not eliminated because new firms cannot enter the industry
Refer to the information provided in Figure 29.1 below to answer the question(s) that follow.
Figure 29.1Refer to Figure 29.1. If policy makers take an action at time t2, the impact on the economy will not be at time t2 because
A. of the response lag. B. economic policies are ineffective. C. of the recognition lag. D. of the implementation lag.
You have been hired by a data processing firm to provide economic advice. The owner of the firm tells you that the firm's only variable input is the number of data-entry operators. The hourly wage for data-entry operators is $15.00. The marginal revenue product curve for data-entry operators reaches its maximum at three workers with a marginal revenue product of $12.00. What advice would you give this firm?
A. Shut down immediately, as the firm is not able to cover all of its variable costs. B. Increase the wage rate paid to data-entry operators so that their marginal revenue product will increase. C. Produce as much as possible so as to maximize the difference between the wage paid to data-entry operators and their marginal revenue product. D. Hire three data-entry operators so as to minimize the amount of money the firm will lose.