The shape of a monopolist's ________ schedule is a curve bowed out from the quantity (horizontal) axis.
A. marginal revenue
B. marginal cost
C. total revenue
D. total cost
Answer: C
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If the marginal propensity to consume (MPC) is 0.80, the value of the spending multiplier is:
a. 2. b. 5. c. 8. d. 10.
Assume the nominal dollar-per-euro ($/€) exchange rate appreciates by 2%, U.S. prices rise by 5% and Euro-Area prices rise by 3%. By approximately how much does the real exchange rate change?
a. 3% b. There is no change. c. 4% d. 5% e. 6%
If inflation expectations rise, the short-run Phillips curve shifts
a. right, so that at any unemployment rate inflation is higher in the short run than before. b. left, so that at any unemployment rate inflation is higher in the short run the before. c. right, so that at any unemployment rate inflation is lower in the short run than before. d. left, so that at any unemployment rate inflation is lower in the short run than before.
The World Trade Organization has about ________ members.
Fill in the blank(s) with the appropriate word(s).