The external marginal cost of producing coal is MCexternal = 6Q while the internal marginal cost is MCinternal = 4Q. The inverse demand for coal is given by P = 120 ? 2Q. How much output would a competitive industry produce?
A. 20
B. 8
C. 10
D. 15
Answer: A
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It is impossible to conduct ________ policy and maintain a _________ exchange rate.
A. monetary; fixed B. monetary; floating C. fiscal; fixed D. fiscal; floating
The monetary base is also known as:
A. M1. B. M2. C. free reserves. D. high-powered money.
_______________ is the study of how equilibrium is determined in all markets simultaneously
Fill in the blank(s) with the appropriate word(s).
Which of the following people is most likely to be classified as "working poor"?
(A) Jim, who is a full-time student with a work-study job in the college library. (B) Carol, a single mother who works 35 hours a week at a job that pays slightly above minimum wage. (C) Jason, who is working part time as a construction worker so he can devote time to starting up a real estate business. (D) Dolores, who has an advanced degree and works 40 hours a week.