Refer to Scenario 17.3. If there is no insurance and no fire protection program in place, the expected loss from fire for this company is
A) $0.
B) $300.
C) $3,000.
D) $6,000.
E) $300,000.
C
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Real variables can only be affected by:
a. unperceived changes in the price level. b. expected changes in the price level. c. perceived changes in the price level. d. actual changes in the price level.
The slope of the perfectly inelastic demand curve is ________, the slope of the perfectly elastic demand curve is ________
A) undefined, zero B) one, one C) zero, undefined D) one, zero
If a firm decides to ignore the reactions of its rivals to its policies, the appropriate model to analyze its behavior is
a. game theory. b. perfect competition. c. monopoly. d. cartels.
If the government increases its purchases of goods and services by $3,000 and the MPC is 0.8, GDP and income will eventually increase by:
A. $2,400. B. $6,000. C. $15,000. D. $24,000.