Which of the following goods is given in the textbook as an example of a good whose price is subject to volume penalties?
A. Electricity
B. Pizza
C. Beer
D. Yogurt
A. Electricity
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Comment on the following statement: "When average product and marginal product are equal, marginal product is at its maximum."
What will be an ideal response?
Which of the following statements is correct?
A) The Fed has difficulty covering its normal expenses, but is reluctant to ask Congress for money. B) The Fed is dependent on the annual appropriations it receives from Congress. C) The Fed's profits are substantial, even when compared to the largest U.S. corporations. D) At one time the Fed made substantial profits, but falling interest rates have greatly reduced them.
In the economy of Talikastan in 2015, consumption was $200, exports were $150, GDP was $475, government purchases were $100, imports were $75, and investment was $100 . What were Talikastan's net exports in 2015?
a. -$75 b. -$225 c. $225 d. $75
Europe may not be an optimum currency area because
A. people speak different languages. B. financial markets are weak. C. workers are not very mobile. D. the countries do not trade very much with each other.