Who did President Jimmy Carter appoint to head the Federal Reserve beginning in 1979?
a. Ben Bernanke
b. Alan Greenspan
c. Paul Volcker
d. Arthur Burns
c
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To examine how total production in an economy has changed over time, it would be better to examine
A) nominal GDP. B) real GDP. C) GDP at current prices. D) All of the above would give equal measures of production changes over time.
What is one reason firms might lobby to prevent entry into their market?
A) The long run equilibrium might be characterized by P = MC = ATC. B) The long run equilibrium might be characterized by P = MC < ATC. C) The long run equilibrium might be characterized by P > MC = ATC. D) The long run equilibrium might be characterized by P = MC > ATC.
The long-run decline in the relative price of primary products is a strong reason for developing countries to avoid exporting primary products.
Answer the following statement true (T) or false (F)
If the price of action figures was $10 each, his total utility would be ____ and your marginal utility would be ____.
Table-Demand and Utility Table for action figures
A. $30 and $10
B. $36 and $12
C. $36 and $10
D. $26 and $12