If the MPC is 0.5, the tax multiplier is
A. -2.5.
B. -2.
C. -1.67.
D. -1.
Answer: D
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Refer to Figure 13.2. If Oliver's political views place him at the L4 position and George's political views place him at the C4 position, Bobby's preference for mayor is
A) Oliver Cousins. B) George Glass. C) Bobby is indifferent between the two candidates. D) Bobby definitely does not like either candidate.
The process of rapidly adjusting prices based on information gathered on consumers' preferences and their responsiveness to changes in price is called
A) elasticity management. B) marketing. C) yield management. D) brand management.
Which of the following is true in long-run equilibrium for a firm in monopolistic competition?
A) MC = ATC. B) MC > ATC. C) MC < ATC. D) Any of the above may be true.
As more bananas are consumed, marginal utility decreases at
a. the same rate for all people, approaching but never reaching zero b. the same rate for all people, and eventually becomes negative c. different rates for different people, and for everyone, it approaches but never reaches zero d. different rates for different people, and eventually, for everyone, it becomes negative e. different rates for different people, and eventually reaches zero where it remains (it cannot be negative)