A monopolist's goal is to maximize
a. costs
b. sales
c. profit
d. market power
e. price
C
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Which of the following statements is(are) correct
a. As a result of the Great Depression of the 1930s, the quantity theory had come into disrepute, together with the rest of the classical theories. b. According to Friedman, the depression was caused by a fall in aggregate supply and not aggregate demand as believed by the Keynesians. c. As a result of the Great Depression of the 1930s, Friedman believed that the Keynesians had nothing to say about money demand. d. All of the above e. both b and c.
Who among the following individuals most likely experiences the largest nonmonetary reward as a supplier of labor? Assume all of the four individuals have the same level of education and work the same number of hours per week
a. Albert, who prefers not to socialize and works at home by himself b. Amy, whose job provides little intellectual and personal satisfaction c. Antoinette, whose preference is to avoid dangerous work but works as a firefighter d. Arnold, who works the night shift but would prefer to work during the day and sleep at night
Given U.S. tax laws, persistently high inflation may result in
a. They increase growth because particulates provide an additional carbon source b. faster economic growth because the after-tax real interest rate is higher. c. slower economic growth because the after-tax nominal interest rate is lower. d. faster economic growth because the after-tax nominal interest rate is higher.
Economics is best defined as the study of:
A. financial decision-making. B. how consumers make purchasing decisions. C. the choices made by people faced with scarcity. D. inflation, unemployment, and economic growth.