We can use macroeconomic analysis to
A. understand why economies grow.
B. learn how to balance a checkbook.
C. study the choices made by households.
D. understand marginal changes in the macroeconomy.
Answer: A
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Which of the following statements regarding a monopolist is false?
A) The marginal revenue curve lies below the demand curve for the monopolist's output. B) Unlike a perfectly competitive firm, a monopolist faces little or no competition. C) The monopolist sets price equal to marginal cost to maximize profits. D) The monopolist may or may not earn positive economic profits.
When all prices are increasing due to inflation:
A. price signals become more difficult to interpret. B. price signals will be confused for quantity signals. C. price signals are easier to interpret than if prices were decreasing. D. prices do not send signals.
The goal of the consumer in a market economy is to use his or her limited income to buy
A. The goods and services that maximize profits for businesses. B. Those goods and services with the lowest prices. C. The set of goods and services that maximizes the consumer's total utility. D. The greatest number of goods and services possible.
The United Automobile Workers union can select the most favorable point on the demand curve for labor and the auto manufacturing companies can do nothing in response
a. True b. False Indicate whether the statement is true or false