All of the following are automatic fiscal stabilizers EXCEPT
A) a congressionally mandated decrease in tax rates to stimulate the economy.
B) a decrease in unemployment compensation payments during an expansion.
C) a decrease in overall tax revenues during a recession.
D) an increase in unemployment expenditures during a recession.
Ans: A) a congressionally mandated decrease in tax rates to stimulate the economy.
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Firm A charges $8.50 for each unit of Good X. If the average total cost of producing 1,000 units of Good X is $12 and the market for Good X is monopolistically competitive, Firm A ________ by producing 1,000 units of Good X
A) earns a profit of $3,500 B) earns a profit of $1,000 C) incurs a loss of $1,000 D) incurs a loss of $3,500
A firm produces 200 units of a good when it employs 7 workers. The marginal product of the eighth worker is 46 units. If the eighth worker is hired, the firm's total product will increase to:
A) 208 units. B) 228 units. C) 246 units. D) 322 units.