Spending VCU4 on real-world goods and services causes the nation's:
a. Monetary base to rise.
b. M2 money supply to rise.
c. M2 money multiplier to rise.
d. Monetary base to remain the same.
.D
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"It is only insofar as some sort of order arises as a result of individual action but without being designed by any individual that a problem is raised which demands a theoretical explanation.". This statement is from:
a. Samuelson b. Friedman c. Stiglitz d. Hayek e. Marx
When a nation imposes a blanket standard on imports, it refers to policies that:
A. impose standards imposed on all imports. B. restrict the importation of specific goods. C. impose standards on specific countries. D. All of these are true.
A manager of a firm with market power faces the marginal revenue product and average revenue product curves shown below. The firm incurs weekly fixed costs of $1,800. The firm employs a single variable input, labor, which costs $600 per worker each week.
Given the above, suppose the weekly wage rate increases to $1,400 per worker. The firm would hire ________ workers and earn a profit of ________ per week.
A. 6 ; $6,000 B. 6 ; $4,800 C. 6 ; $8,400 D. 0 ; -$1,800 E. 6 ; -$2,400
When a market is corrected for externalities, it:
A. is equitable and makes everyone better off. B. is efficient and maximizes surplus. C. needs government regulation to maintain. D. All of these statements are true.