"Leaning against the wind" is exemplified by a(n)
a. tax increase when there is a recession.
b. increase in the money supply when there is a recession.
c. decrease in government expenditures when there is a recession.
d. All of the above are correct.
Answer: b. increase in the money supply when there is a recession.
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Goods that are similar but are not perfect substitutes are called ________ goods
A) differentiated B) homogeneous C) normal D) inferior
The demand curve for a monopoly firm
A) lies below its marginal revenue curve. B) is perfectly inelastic. C) is the same as the market demand curve. D) is horizontal.
All of the following represent differences between stocks and bonds except
A) a stock can possibly pay dividends forever, but bonds have a fixed number of payments. B) differences of opinion about a stock's future may vary considerably but there is less difference about a bond's future. C) the future growth of a stock is more uncertain than the payments of a bond. D) bonds represent partial ownership in a firm but stocks do not.
Refer to the information provided in Table 13.4 below to answer the question(s) that follow. Table 13.4Price ($)Quantity20.00118.00216.00314.00412.00510.006 8.007Refer to Table 13.4. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $8 per unit of providing the product, then the monopoly maximizes its profits by charging ________ per unit and selling ________ units of output.
A. $12; 5 B. $18; 2 C. $10; 6 D. $14; 4