The marginal revenue curve of a monopolist is
A) downward sloping and below the demand curve.
B) downsloping and identical to the demand curve.
C) downsloping and above the demand curve.
D) horizontal and same as the market demand curve.
Answer: A
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The sum of the components of aggregate expenditure that are not influenced by real gdp is called?
A) autonomous consumption. B) the MPC. C) autonomous expenditures. D) induced expenditures.
Using the rule of 72, determine how long it would take for real GDP to double if it grew at a constant growth rate of 4 percent.
A. 72 years. B. 144 years. C. 4 years. D. 18 years.
The figure below represents the domestic market for wheat in a small country. Imports of wheat are prohibited.
With an export subsidy of $20 per bushel, the consumption effect of the export subsidy amounts to
A. $300 million. B. $200 million. C. $2.2 billion. D. $1 billion.
In some markets for used goods:
A. the seller has more information than the buyer about the quality of the good. B. the buyer has more information than the seller about the quality of the good. C. low-quality used goods will be underpriced. D. the quality of used goods sold in the market will typically rise over time.