The Bureau of Labor Statistics determines which prices are most important to the typical consumer by surveying consumers
a. True
b. False
Indicate whether the statement is true or false
True
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A rightward shift in the demand curve for a product will ordinarily result from
A. a decrease in the advertising budget. B. a decrease in the price of a competing product. C. an increase in consumer income. D. an increase in the price of a complementary good.
Net exports will be negative if:
A. imports exceed exports. B. exports exceed imports. C. it is a closed economy. D. it is an open economy.
A weakness in the classical economic claim that a recession is caused by a decrease in labor demand curve is
a. that labor demand never changes b. that labor demand increases during a recession c. that labor supply decreases during a recession d. the confusion between a shift of the labor demand curve and a movement along that curve e. the impossibility in the classical model of total spending ever being deficient
A profit-maximizing monopolist will produce at the point where:
a. total revenue = total costs. b. marginal revenue = marginal cost. c. average revenue = average cost. d. the difference between average revenue and average cost is maximized.