If a monopolist has an output price of $10, marginal revenue equal to $4, and faces a fixed wage rate of $8, then the monopolist should hire labor until the marginal revenue product is equal to

The real interest rate is 4 percent a year. When the inflation rate is zero, the nominal interest rate is approximately ________ percent a year; and when the inflation rate is 2 percent a year, the nominal interest rate is approximately ________

percent a year. A) 0; 2 B) 4; 6 C) 6; 8 D) 6; 4

A government-inhibited good is one that

A) the political process has determined is socially undesirable. B) the political process has determined is socially desirable. C) freely competitive markets have determined is socially desirable. D) we want to encourage the consumption of.