Suppose the accompanying figure shows the demand curve, marginal revenue curve and marginal cost curve for a monopolist.
The profit-maximizing level of output for this monopolist is ________ units per day.
A. I
B. H
C. F
D. G
Answer: C
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In using the composite-good convention in an indifference curve diagram, economists
a. compare the prices of market baskets at different points in time. b. divide the world's production into two classes, goods and services. c. divide the world's goods into two classes, high quality goods and low quality goods. d. lump together all goods but one into a single good measured in a single unit, like dollars.
Which of the following institutions is the most important participant in foreign currency markets?
A) A retail customer B) A commercial bank C) A foreign exchange broker D) A central bank E) None of the above.
In which of the following cases did the U.S. Supreme Court decide that a corporation was an "individual" but not a constitutional citizen?
(a) Nebbia v New York (1934) (b) Munn v Illinois (1877) (c) McCulloch v Maryland (1819) (d) Dartmouth College v Woodward (1819)
GDP is: a. the total value of all consumer expenditures within a given period
b. national income after taxes. c. the total value of all final goods and services plus intermediate goods and services produced domestically within a given period. d. the value of all final goods and services produced domestically within a given period.