If the graph shown is displaying a competitive market and the market is currently offering a wage more than P*:
A. firms would have a hard time finding workers.
B. there would not be unemployment in the market.
C. equilibrium would be achieved.
D. there would be a surplus of workers who want to work at that wage.
Answer: D
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Refer to Table 11.1. If exports increase by 20 (X = 100), what is the new equilibrium level of output?
A) 1,825 B) 2,425 C) 7,300 D) 9,700
Intended investment is
a. always equal to saving b. what producers hope will equal saving c. the investment producers actually make d. the investment producers had planned to make but may have ended up not making e. what producers hope ends up as inventory
Most Mexican workers can increase their wages if they migrate to the United States, a demand-pull factor for migration
Indicate whether the statement is true or false
A monopolistically competitive firm finds its profit-maximizing rate of output by equating
A) the marginal revenue of advertising with the marginal cost of advertising. B) average revenue and average total cost. C) price and marginal cost. D) marginal revenue and marginal cost.