The price a monopolist sets is equal to:
A. marginal cost.
B. average revenue.
C. marginal revenue.
D. average total costs.
Answer: B
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The law of diminishing marginal returns states that
A) as both labor and capital are increased, output increases at a decreasing rate. B) output increases at a decreasing rate as more capital is added. C) output decreases at a constant rate as more capital is added. D) as both labor and capital are increased, output does not change. E) output increases at a constant rate as more capital is added.
In a(n) ________ market, dealers in different locations buy and sell securities to anyone who comes to them and is willing to accept their prices
A) exchange B) over-the-counter C) common D) barter
If output per worker in a steady state is $30,000, depreciation is 13%, the population growth rate is two percent, and the saving rate is 20%, what is the steady state capital-labor ratio?
A) $10,500 B) $85,714 C) $22,500 D) $40,000
Starting from equilibrium in the money market, suppose the money supply increases. Other things being equal, this will cause an excess demand for money, leading people to buy bonds
a. True b. False Indicate whether the statement is true or false