If both money demand and commodity demand are unstable, as many activists believe, which type of policy target would most likely lead to a stable economy? (assume no supply-side shocks, and a fixed price level)
A) money supply target
B) real GDP target
C) interest rate target
D) none of the above
D
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The difference between the marginal benefit from a new pair of shoes and the price of the new pair of shoes is
A) the consumer surplus from that pair of shoes. B) what we get. C) what we have to pay. D) the price when the marginal benefit is maximized. E) the consumer's expenditure on the shoes.
If average fixed cost exceeds average variable cost, a firm should shut down in the short run
a. True b. False
While waiting in line to buy two tacos at 75 cents each and a medium drink for 80 cents, Jordan notices that the restaurant has a value meal containing three tacos and a medium drink all for $2.50. For Jordan, the marginal cost of purchasing the third taco would be
A) 75 cents. B) zero. C) 80 cents. D) 20 cents.
Protecting endangered species is NOT an example of a public good because there are no external benefits associated with it.
Answer the following statement true (T) or false (F)