The supply of loanable funds, or "national saving," is equal to:
A. income ? consumption.
B. income ? consumption ? taxes.
C. income ? consumption ? government spending.
D. income ? consumption ? government spending ? taxes.
Ans: C. income ? consumption ? government spending.
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Using the data in the table above, if the price of a stapler is $5, then there is ________ of staplers, and the quantity of staplers demanded ________ the quantity of staplers supplied
A) a shortage; is greater than B) a surplus; is less than C) a shortage; is less than D) a surplus; is greater than E) neither a surplus nor a shortage; equals
A corporation ________ taxes on its profits and its stockholders ________ taxes on any dividends made to them by the company
A) pays; pay B) pays; do not pay C) does not pay; pay D) does not pay; do not pay
Which of the following is most likely to represent causality rather than association?
a. In years that fashion dictates wider lapels on men's jackets, the stock market grows by at least 5 percent. b. Interest rates are higher in years ending with a 1 or a 6. c. Unemployment falls when the AFC champion wins the Super Bowl. d. Quantity demanded goes up when price falls because lower prices increase consumer purchasing power, ceteris paribus.
Assume that an oligopolist faces a kinked demand curve. Suppose that the marginal cost curve passes through the gap in the marginal revenue curve. Price and output will be determined
a. drawing a line from the point where MC = P to both the vertical and horizontal axis, the vertical indicating output, the horizontal indicating price b. drawing a line from the point where MC = P to both the vertical and horizontal axis, the vertical indicating price, the horizontal indicating output c. at the kink d. at ATC = MC which, too, passes through the gap e. to be zero because the MC curve passes through the gap