5 Written questions
5 Matching questions
- The market supply of a particular good:
- The planning period over which at least one resource input is fixed in quantity is the:
- Which of the following is not a barrier to entry into a monopoly market?
- If consumers save 21 cents out of every dollar received, the:
- The goal of most business firms is to:
- a Is the sum of the quantities of the good that all producers are willing and able to sell.
- b The existence of substitute goods.
- c Maximize total profit.
- d MPS is 0.21.
- e Short run.
5 Multiple choice questions
- The very young and old.
- Cyclical unemployment should increase and real GDP should decline.
- Marginal utility is zero.
- It must be minted by the government in order to have value
5 True/False questions
TRUE/FALSE: For a monopoly, profits are maximized at the output level where price and marginal cost are equal. → True
An individual wheat farmer has no market power because: → It must accept the equilibrium market price.
One reason our full employment goal is not zero percent is because: → It must accept the equilibrium market price.
Suppose your tax is $4,000 if your income is $40,000, and your tax is $9,000 if your income is $70,000. Such a tax structure is: → Some inputs are fixed.
Which of the following suggests that lower average prices stimulate more borrowing? → Some inputs are fixed.