If a goal of a nation's residents is to increase marginal productivity, they should increase
A. expenditures on education.
B. the inheritance tax.
C. the marginal propensity to consume.
D. exports.
Answer: A
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Which of the following causes the unemployment rate to understate the true extent of joblessness?
A) Many full time workers really want to be part time workers. B) A drug dealer reports herself as unemployed. C) Persons who collect unemployment benefits report themselves to be searching for a job. D) Discouraged workers are counted as unemployed. E) Discouraged workers are not counted as unemployed.
Which of the following taxes is least likely to be shifted?
A. A federal excise tax on grapefruit B. A sales tax on some foodstuff C. A personal income tax D. A state tax on football tickets
Under a rule of reason approach, which of the following would be legal in the United States?
a. the merger of two small companies in an unconcentrated market b. price fixing between IBM and Compaq c. the merger between Ford and General Motors d. Kellogg's and General Mills collude to drive Quaker Oats out of the business e. Exxon Oil and Mobil Oil elect the same person to their boards of directors
If a competitive firm maximizes short-run profits by producing some quantity of output, which of the following must be TRUE at that level of output?
A) p > MC B) MR > MC C) p ? AVC D) All of the above.