Toddler Treats produces soft cereal bars for toddlers and Toddler Treats states on its packaging and in its advertising that its cereal bars are nut-free. All of the following could be accidents for Toddler Treats except which one?
A) an audit failure
B) selling cereal bars that have been cross-contaminated with peanuts
C) failing to earn economic profit
D) infringing on other company's patent on toddler cereal bars
C) failing to earn economic profit
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
The tables above show the marginal costs and benefits from production of paper. If the market is perfectly competitive and unregulated, at the equilibrium level of output, the marginal external cost is
A) zero B) $10 C) $20 D) $30
The Fed has decreased the money supply. The formula for calculating the resulting change in demand deposits is
a. (1/RRR) minus the change in reserves b. (1/RRR) multiplied by the change in reserves c. the change in reserves divided by [1 - (1/RRR)] d. RRR minus the change in reserves e. [1 - (1/RRR)] multiplied by the change in reserves
Discuss the roles that rising and falling interest rates play in causing shifts of the entire AD curve.
What will be an ideal response?