Which of the following is most important if the living standards of people residing in a country are going to improve?
a. growth of population
b. growth of per capita GDP
c. growth of the money supply
d. growth of government expenditures as a share of GDP
b
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How many units should the firm produce? In other words, at what level of output does marginal cost equal marginal revenue?
a. 1 b. 2 c. 3 d. 4
Suppose that for a particular firm the only variable input into the production process is labor and that output equals zero when no workers are hired. In addition, suppose that when the firm hires 2 workers, the total cost of production is $100 . When the firm hires 3 workers, the total cost of production is $120 . In addition, assume that the variable cost per unit of labor is the same
regardless of the number of units of labor that are hired. What is the firm's fixed cost? a. $40 b. $60 c. $80 d. $100
Why is it necessary to distinguish between the target federal funds rate range and the market federal funds rate?
What will be an ideal response?
There are fifteen airlines that will take you from New York to L.A. The best model to analyze this market is
A. monopoly. B. monopolistic competition. C. oligopoly. D. perfect competition.