Refer to the table. The interest-rate effect of changes in the price level is shown by columns:
Answer the question on the basis of the following table for a particular country in which C is
consumption expenditures, I g is gross investment expenditures, G is government expenditures,
X is exports, and M is imports. All figures are in billions of dollars. Each question is
independent of other question using the same table, unless otherwise stated.
A. (1) and (4) of the table.
B. (5) and (6) of the table.
C. (1) and (3) of the table.
D. (2) and (4) of the table.
C. (1) and (3) of the table.
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Price discrimination results in _____________ than would be observed under a single-price monopoly
a. higher output and lower costs b. lower output and higher costs c. higher output and higher costs d. lower output and lower costs
Those who oppose minimum wage legislation argue that:
A. setting a wage above the market-clearing equilibrium creates unemployment. B. it should be set below the market-clearing equilibrium. C. workers deserve a basic standard of living. D. the way to get an efficient labor market is for government intervention.
The major problem with direct controls as an environmental protection measure has been
A. insufficient enforcement. B. special interest legislation. C. illegal dumping. D. legislation that lack substantial penalties.
Minimum efficient scale is defined as
A. the point at which economies of scale are at their maximum. B. the amount of labor that maximizes the marginal product of labor. C. the point at which marginal cost, average variable cost, and average fixed cost are all equal. D. the lowest output level at which long-run average costs are at their minimum.