Refer to the above figure. The firm is currently producing at Q1. The firm should
A) reduce production.
B) leave production as it is.
C) increase production.
D) shut down.
B
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Assuming a long-run aggregate supply curve, an increase in the money supply results in ________ in output and ________ in price level
A) an increase; no change B) a decrease; no change C) a decrease; a decrease D) no change; an increase
When the dollar strengthens,
A) exports will increase and U.S. consumers benefit. B) imports will increase and U.S. consumers benefit. C) exports will decrease and U.S. exporters benefit. D) exports will increase and U.S. exporters gain.
This agency regulates workplace safety and health conditions
A) Environmental Protection Agency B) Consumer Product Safety Commission C) Equal Employment Opportunity Commission D) Occupational Safety and Health Administration
After acquiring a close substitute, to increase profits the firm must Raise prices on all the products equally
a. b. Raise the prices only on products with high margins, while reducing prices on products with low margins c. Raise prices only on products with high margins, while keeping prices constant on products with low margins d. Raise prices on both the products, but raise the prices more for products with higher margins