Suppose the accompanying table describes the relationship between price and quantity demanded for a monopolist. QuantityPrice1$102$93$84$75$66$57$48$3The marginal revenue of the fifth unit of output is:
A. $2.
B. $30.
C. ?$2.
D. $6.
Answer: A
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Refer to Table 7-5. Fill in the following table with the opportunity costs of producing bows and arrows for Tran and Farah
Pens Pencils Tran Farah
Prior to financial deregulation, the store of value and medium of exchange functions of money were maintained separate among asset classes because the regulatory agencies
A) precluded the payment of interest by checking accounts. B) allowed the payment of interest by checking accounts. C) specifically prohibited money market stock funds. D) allowed the payment of interest on passbook savings accounts.
A ________ income tax means that those with a higher income pay a higher percentage of their income in taxes than low-income people.
A. proportional B. consumption-based C. progressive D. regressive
In a closed private economy, income is $50 billion and consumption is $40 billion. When income rises by 10 percent, consumption rises by 9 percent. The MPS over the relevant income range is:
A. 0.11 and the multiplier is 9.09 B. 0.28 and the multiplier is 3.57 C. 0.62 and the multiplier is 1.61 D. 0.72 and the multiplier is 3.57