An unexpected event that causes the aggregate demand curve to shift inward or outward is an
A) aggregate demand shock.
B) aggregate supply shock.
C) aggregate supply increase.
D) aggregate supply decrease.
A
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To compute a monthly consumer price index, we need
A) data about consumption habits in every month. B) data about item prices every month. C) fixed exchange rates. D) the GDP or GNP deflator.
Suppose that market demand for a good is Q = 480 - 2p. The marginal cost is MC = 2Q. Calculate the deadweight loss resulting from a monopoly in this market
What will be an ideal response?
An example of a supply shifter is:
A) demographic characteristics. B) technology. C) income. D) consumer expectations.
Assume that demand decreases by 3 percent, the absolute value of price elasticity of demand is 1.0, and price elasticity of supply is 1.0. What is the percentage price change in this case?
What will be an ideal response?