If the economy is experiencing an economic boom, which point in the graph shown would likely represent this?
A. E1
B. E2
C. E3
D. E4
D. E4
You might also like to view...
Lucky buys hats for $20 but Lucky will not sell one of her hats for less than $35. Lucky is ________
A) displaying the endowment effect B) making decisions using her prefrontal cortex C) exhibiting bounded self-interest D) showing unbounded will power
Positive economic analysis is supposed to be
A) true. B) free of value judgments. C) just and fair. D) moral and honest.
If a perfectly competitive industry is in long-run equilibrium, the price of the product equals the minimum of:
A. marginal cost. B. fixed cost. C. average variable cost. D. average total cost.
If bagels and doughnuts are substitutes, then a decrease in the price of doughnuts will result in
A. An increase in the demand for bagels. B. An increase in the demand for doughnuts. C. A decrease in the demand for bagels. D. A decrease in the demand for doughnuts.