Refer to the information provided in Figure 3.13 below to answer the question(s) that follow.
Figure 3.13Refer to Figure 3.13. Assume hamburgers and hot dogs are substitutes. A decrease in the price of hot dogs will cause a movement from
A. D2 to D1.
B. D1 to D2.
C. Point F to Point G.
D. Point A to Point B.
Answer: A
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Which of the following measures did the Fed take during the financial crisis of 2008? a. The Fed lowered the discount rate and paid interest on reserves held at the Fed. b. The Fed increased the reserve requirement ratio
c. The Fed sold all government securities. d. The Fed decreased its spending. e. The Fed increased the discount rate.
A vertical long-run aggregate-supply curve represents
a) both the classical dichotomy and monetary neutrality. b) the classical dichotomy but not monetary neutrality. c) neither the classical dichotomy nor monetary neutrality. d) monetary neutrality but not the classical dichotomy.
Suppose the total monetary value of all final goods and services produced in a particular country in 2010 is $500 billion and the total monetary value of final goods and services sold is $450 billion. We can conclude that:
A. GDP in 2010 is $450 billion. B. NDP in 2010 is $450 billion. C. GDP in 2010 is $500 billion. D. inventories in 2010 fell by $50 billion.
If it is NOT possible for a pharmaceutical drug maker to sell its generic cholesterol reducing drug along with some name brand cholesterol reducing drugs, we have an example of monopoly due to
A. governmental entry restrictions. B. ownership of key resources. C. economies of scale. D. pure competition.