A shift from i1 to i2 in graph 1 leads directly to which of the following in graph 2?
a. a shift from PL2 to PL1
b. a shift from MD2 to MD1
c. a shift from RGDP1 to RGDP2
d. a shift from RGDP2 to RGDP1
c. a shift from RGDP1 to RGDP2
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On what kind of income is our tax system based?
A) nominal B) adjusted C) real D) inflationary
All successful bidders in a Treasury bill auction pay the __________ price for their bids
A) market-clearing B) highest accepted C) average D) lowest accepted
A manager believes there is a 10 percent chance their firm will have to pay $500,000, a 20 percent chance that they will have to pay $400,000 and a 70 percent chance they will be found innocent and pay nothing except the legal fees of $100,000. If the manager chooses to not settle for $230,000 (pay the plaintiff) and to enter the litigation instead, which of the following is true?
A) The manager is risk neutral. B) The manager is risk averse. C) The manager is risk intolerant. D) The manager is a risk lover.
A monopolist produces in the elastic segment of its demand curve because when it lowers the price
A) the percentage change increase in quantity demanded is greater than the percentage change decrease in price and total revenue increases. B) the percentage change increase in quantity demanded is less than the percentage change decrease in price and total revenue increases. C) the percentage change increase in quantity demanded is greater than the percentage change decrease in price and total revenue decreases. D) the percentage change decrease in quantity demanded is less than the percentage change decrease in price and total revenue increases.