Figure 13-1
?
In Figure 13-1, for a monopolistically competitive firm, long-run equilibrium can occur only at the quantity indicated by which point?
A. A
B. B
C. C
D. D
Answer: C
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Carlson earns an income of $10,000 per month. Under the federal income tax system, the first $9,000 he earns is taxed at 10% and the remaining income is taxed at 20%. The tax owed by Carlson equals _____
a. $1,100 b. $2,000 c. $1,500 d. $3,000
A rightward shift of the investment demand curve would be caused by a(n):
A. increase in the expected rate of return on investment caused by an increase in business confidence. B. decrease in the expected rate of return on investment caused by a decrease in business confidence. C. increase in the rate of interest. D. decrease in the rate of interest.
Which of the following is most likely to be an impact of foreign direct investment?
A. Government revenue of the home country increases. B. The wage rate declines in the host countries. C. The rental rate of capital declines in the home country. D. Temporary unemployment may arise in the home country.
Production inefficiency occurs
A. only when an economy produces underneath its production possibility frontier. B. either when an economy produces underneath the production possibility frontier or when the economy is producing the wrong combination of goods on the production possibility frontier. C. only when an economy produces at the wrong point on the production possibility frontier. D. only when the economy produces outside the production possibility frontier.