If an increase in one variable causes a decrease in another variable, this is
A) a direct relationship.
B) a dependent relationship.
C) an independent relationship.
D) an inverse relationship.
D
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If the price of a product increases
A. total revenue will definitely decrease. B. total revenue will definitely increase. C. consumer surplus will decrease. D. consumer surplus will increase.
If the Fed sells government bonds on the open market, which of the following is likely to occur?
A. The money supply will expand. B. The market rate of interest on government bonds will increase. C. The market rate of interest on corporate bonds will decrease. D. The amount of investment spending will increase.
In a steady-state economy with no population growth, consumption per worker is 45, the saving rate is 25 percent, and the depreciation rate is 15 percent. The level of capital per worker is ________
A) 75 B) 36 C) 100 D) 27
The firm can calculate all points on its total cost curve if it knows
A. its production function. B. the prices of inputs and of output. C. its average cost at its optimal output level. D. the prices of inputs and its production function.