If the stock market quote in the newspaper reads 752 in the column headed "Vol 00s", it means that 752 shares of this stock were traded on this particular day
Indicate whether the statement is true or false
False
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Inferior goods are those for which demand increases as
A) the price of a substitute falls. B) the price of a substitute rises. C) income decreases. D) income increases.
Acquiring a firm that sells a substitute good will
a. Make the demand curve more inelastic b. Make the demand curve more elastic c. Make MR>MC d. Will have no effect on the demand curve
A year-long drought that destroys most wheat crops for the season would shift the:
A. short-run aggregate supply curve only. B. aggregate demand curve only. C. aggregate demand curve, and the short-run aggregate supply curve would shift in response. D. short-run aggregate supply curve and the long-run aggregate supply curve.
Refer to the information provided in Table 19.4 below to answer the question(s) that follow.Table 19.4Total IncomeTotal Taxes$10,000 $1,000 20,000 2,400 30,000 4,500 40,000 8,000Related to the Economics in Practice on page 393: Refer to Table 19.4. If income increases from $20,000 to $30,000, the marginal tax rate is
A. 3%. B. 15%. C. 21%. D. indeterminate from this information.