______ revenue equals total revenue divided by the number of units of the product sold.
a. Marginal
b. Percentage
c. Average
d. Partial
c. Average
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The saving rate has the following characteristic in Solow's exogenous growth model
A) it increases with output. B) it first decreases, then increases with output. C) it first increases, then decreases with output. D) it is constant.
John Maynard Keynes
A. agreed with classical writers that strong automatic pressures drive market economies to full employment. B. focused on attaining the long-run macroeconomic goal of high, but stable economic growth. C. argued that a market economy might become stuck in a short-run equilibrium in which substantial capital and labor lay idle. D. argued that short-run equilibrium occurs only at full employment.
In the early 1980s, which of the following countries had a marginal tax rate of about 80 percent?
a. United States b. Canada c. Japan d. Sweden
An increase in price causes an increase in total revenue when demand is
a. elastic.
b. inelastic.
c. unit elastic.
d. All of the above are possible.