Caroline Jahn has a professional degree and is 51 years old. Bob Rubate also has a professional degree and is 29 years old. On average, Caroline most likely earns
a. 75 percent less than Bob
b. 7 percent less than Bob
c. 75 percent more than Bob
d. 7 percent more than Bob
e. the same amount as Bob
C
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Assume that the central bank purchases government securities in the open market. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the real risk-free interest rate and real GDP in the context of the Three-Sector-Model?
a. The real risk-free interest rate falls, and real GDP rises. b. The real risk-free interest rate falls, and real GDP stays the same. c. The real risk-free interest rate rises, and real GDP remains the same. d. There is not enough information to determine what happens to these two macroeconomic variables. e. The real risk-free interest rate falls, and real GDP falls.
In the CPI, goods and services are weighted according to
a. how long a market has existed for each good or service. b. the extent to which each good or service is regarded by the government as a necessity. c. how much consumers buy of each good or service. d. the number of firms that produce and sell each good or service.
How do economies of scale contribute to the development of an oligopoly?
A) Economies of scale make it legally difficult for new firms to enter.
B) Economies of scale make small-scale producers inefficient.
C) Economies of scale are based on control of a key resource, without which other firms cannot enter an industry.
D) Economies of scale are guaranteed when a patent is granted.
Robert produces sunglasses. He can sell them for $15 per pair. At the level of output where MR = MC, his AVC = $15.45 and his AFC = $.40 . Explain whether or not Robert should shut down