Which would have no effect on the demand for motorcycles?
a. A change in tastes
b. A change in the cost of steel
c. A change in the price of gas
d. A change in the prices of cars
b. A change in the cost of steel
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A marginal benefit curve
A) is the same as a demand curve. B) is the same as a supply curve. C) slopes upwards. D) is a vertical line at the efficient quantity. E) is U-shaped.
Flora's Flowers operates in a perfectly competitive market. At the point where marginal cost equals marginal revenue, ATC = $10, AVC = $5, and the price per unit is $7.50 . In this situation,
a. Flora earns positive profits in the short run b. Flora will shut down in the short run c. Flora's supply curve will shift to the left d. Flora's supply curve will shift to the right e. Flora earns negative profits in the short run but will remain open
The hallmark of Clintonomics was first to reduce the budget deficit
a. True b. False Indicate whether the statement is true or false
If the nominal interest rate is above the equilibrium value, then the quantity demanded of money is ________ than the quantity supplied of money, bond prices will ________, and the nominal interest rate will ________.
A. less; fall; increase B. greater; fall; increase C. less; rise; decrease D. greater; rise; increase