________ uses the concept of marginal analysis to determine the optimum choice
A) Optimization in margins
B) Optimization in levels
C) Optimization in markets
D) Optimization in differences
D
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If the marginal propensity to consume (MPC) is 0.75 and government purchases increase by $200 billion, then
A) equilibrium real Gross Domestic Product (GDP) will increase by $50 billion. B) the effect on equilibrium real Gross Domestic Product (GDP) cannot be determined from the given information. C) equilibrium real Gross Domestic Product (GDP) will increase by $800 billion. D) equilibrium real Gross Domestic Product (GDP) will increase by $200 billion.
In the figure above, consumer surplus at the price that maximizes the profit for an unregulated, single-price monopolist is the area of
A) rectangle 0heb. B) triangle abe. C) triangle eig. D) rectangle 0hgd.
When a unit tax is placed on demanders ____
a. it will be paid entirely by demanders if the demand curve is elastic b. it will have the same effect as a similar unit tax placed on suppliers c. they will pay a larger share than if it was initially placed on suppliers d. they will pay a smaller share than if it was initially placed on suppliers
The type(s) of merger(s) that directly increase(s) concentration in an industry is (are)
a. horizontal b. vertical c. conglomerate d. both vertical and horizontal e. both vertical and conglomerate