The Keynesian aggregate demand curve slopes downward because for any given money supply, an increase in the price level ______ real money holdings which _____ the interest rate and _____ income
a. increases; lowers; increases
b. reduces; raises; reduces
c. reduces; lowers; increases
d. increases; raises; reduces
B
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If in the market for oranges the supply has increased, then
A) the supply curve for oranges has shifted to the left. B) the supply curve for oranges has shifted to the right. C) there has been a movement upwards along the supply curve for oranges. D) there has been a movement downwards along the supply curve for oranges.
Which of the following is true if the total variable cost curve is rising?
a. Average fixed cost is increasing. b. Average fixed cost is constant. c. Marginal cost is decreasing. d. Marginal cost is increasing.
There is no difference between building a theory and evaluating a theory
Indicate whether the statement is true or false
Some hotels in Myrtle Beach, South Carolina charge over $200 a night in the summer but sometimes as little as $99 a night in the winter. Use supply and demand analysis, including graphical and verbal explanation, for these winter "sales."