In 1945–52, the records show that falling price levels stimulated increases in real Gross National Product (GNP)

Suppose a single-price monopoly sells 3 units of a good at $20 per unit. If the monopoly sells 4 units, the total revenue increases to $72. What is the marginal revenue of the fourth unit?

A) $52 B) $18 C) $60 D) $12 E) $20

Nick consumes two goods, chips and lemonade. Located on the x-axis is the quantity of chips and on the y-axis is the quantity of lemonade. The magnitude of the slope of the budget line equals the

A) price of lemonade. B) price of chips. C) price of chips/price of lemonade. D) price of lemonade/price of chips.