A firm stands to lose by operating instead of shutting down if ________ does not sufficiently cover ________.
A. operating profit; economic profit
B. price; average variable cost
C. price; average fixed cost
D. total revenue; total costs
Answer: B
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In the next several decades, the dependency ratio relevant to the Social Security system is expected to ________
A) remain largely unchanged B) rise C) fall D) fluctuate unpredictably
A recent research signified the large health benefits of eating cooked tomatoes. Holding other things constant, this will cause
a. The demand curve for tomatoes to shift to the right b. The demand curve for tomatoes to shift to the left c. The supply curve for tomatoes to shift to the right d. The supply curve for tomatoes to shift to the left
The answer is: 1/(1 - MPC). What is the question?
A) What is the marginal propensity to save? B) What is the efficiency wage model? C) What does consumption equal if the economy is in equilibrium? D) What is the multiplier? E) What does disposable income equal if the economy is in equilibrium?
Consider the hypothetical supply and demand of Kidneys.
Initially, kidneys are exchanged by donations only (price=0). If the government decides to legalize kidney sales and the market reaches equilibrium, then:
A. consumer surplus remains the same. B. total surplus increases. C. a shortage of kidneys will arise. D. producer surplus remains the same.