6) Which of the following was NOT a major store of U.S. household wealth in 1950?…
A perfectly competitive firm is a: Correct Answer : price taker The Choices Were: • loss leader • price leader • price taker • price maker ________________________________________ Correct Answer A firm that has monopoly power is a: Your Answer : price maker Correct Answer : price maker The Choices Were: • loss leader • price leader • price taker • price maker ________________________________________ Correct Answer For a perfectly competitive firm, price is always identical to Your Answer : marginal revenue Correct Answer : marginal revenue The Choices Were: • marginal cost • marginal revenue • total revenue • average total cost ________________________________________…
2008, A was $100, B was $50, C was $30 and D was $10. How much is GDP?…
According to the graphs, we can see that as people’s age increase, their salaries also increase correspondingly. This occurs because older people are in the workforce longer than young adults, thus, they have more experience. In other words, older people have more seniority. Their annual increase in salary accumulates, and thus their overall annual salaries are higher.…
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Instructor: D.G. McFetridge Fall Term 2011 Office: A806 Loeb Building Phone: 613-520-2600 ext. 3748 E-mail: donald_mcfetridge@carleton.ca Office Hours: Mondays, 2:30 p.m. – 3:30 p.m. and Thursdays, 11:30 a.m. – 12:30, or by appointment COURSE WEB SITE: www.carleton.ca/~dmcfet/courses PREREQUISITE: ECON 2030 with a grade of C- or higher or ECON 2003 (no longer offered) with a grade of C- or higher. COURSE FORMAT: Lectures: Thursdays, 8:35 a.m. - 11:25 a.m. Room: St. Patrick’s 400 EXAMINATIONS: There will be one midterm examination. It will be held in class from 9:00 a.m. - 11:00 a.m. on Thursday October 27, 2011. There will also be a 3-hour final examination…
1. Graphically and verbally explain why an increase in retail sales during Christmas 2011 will boost GDP growth in Q1 2012.…
6. If all other factors are equal, what is likely to happen to the demand for a product if the price goes down? Why? Explain. If the price of a product goes down the demand will rise because the product is cheaper.…
D. GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.…
Discuss whether the most effective way to have income and wealth equality is to tax income more progressively.…
American liberalism argues that the government needs to act to ensure equality among its citizens. In current politics many liberals are pushing for gay rights, affirmative action, open immigration, and similar policies. Conservatism argues that the government’s main job is to protect freedom and…
Refer to Figure 11-4. Potential GDP equals $100 billion. The economy is currently producing GDP1 which is equal to $90 billion. If the MPC is .8, then how much must autonomous spending change for the economy to move to potential GDP?…
In May 4, 1886 the Haymarket riot in the police clashed violent whit militant anarchists and labor movement protesters in Chicago. The strong public and state reaction against the Haymarket protesters has been palled the first red scare in U.S history.…
6. The US’s demographic pattern about 100 years ago would be similar to those countries in the…
3. We should tax those who earn more according to their ability, and distribute wealth evenly to others according to their need.…