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5 Written questions

5 Matching questions

  1. The market supply of a particular good:
  2. The planning period over which at least one resource input is fixed in quantity is the:
  3. Which of the following is not a barrier to entry into a monopoly market?
  4. If consumers save 21 cents out of every dollar received, the:
  5. The goal of most business firms is to:
  1. a Is the sum of the quantities of the good that all producers are willing and able to sell.
  2. b The existence of substitute goods.
  3. c Maximize total profit.
  4. d MPS is 0.21.
  5. e Short run.

5 Multiple choice questions

  1. The very young and old.
  2. Cyclical unemployment should increase and real GDP should decline.
  3. Marginal utility is zero.
  4. $470
  5. It must be minted by the government in order to have value

5 True/False questions

  1. TRUE/FALSE: For a monopoly, profits are maximized at the output level where price and marginal cost are equal.True


  2. An individual wheat farmer has no market power because:It must accept the equilibrium market price.


  3. One reason our full employment goal is not zero percent is because:It must accept the equilibrium market price.


  4. 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.


  5. Which of the following suggests that lower average prices stimulate more borrowing?Some inputs are fixed.