The short-run aggregate supply curve shifts because of changes in all of the following EXCEPT
A) the capital stock.
B) technological progress.
C) money wage rates.
D) the price level.
D
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Reducing a tariff will ________ the domestic production of the good and ________ the total domestic consumption of the good
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
In the above figure, at a price of $4 per unit, a profit-maximizing perfectly competitive firm will
A) shut down because its total revenue is less than its variable costs. B) incur an economic loss. C) produce 5 units. D) Both answers A and B are correct.
Help in financing our federal budget deficit comes from a ________ amount of net exports, which is called ________
A) negative, net foreign investment B) negative, foreign borrowing C) positive, net foreign investment D) positive, foreign borrowing
Country Z has established specific limits for allowable pollution. Which term best describes this situation?
a. Command-and-control regulation b. Cap and trade program c. Pollution charges d. Market-oriented environmentalism