A fall in supply is illustrated by
a. a downward shift in the supply curve.
b. moving the equilibrium point down and to the left along the supply curve.
c. drawing the supply curve flatter.
d. shifting the supply curve to the left.
d. shifting the supply curve to the left.
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Which of the following combinations would constitute a vertical merger?
A) General Motors and Bridgestone Tire Company B) General Motors and Ford Motor Company C) Philip Morris and RJ Reynolds D) Philip Morris and Barnes & Nobles Booksellers
If the fractional reserve system did not exist,
a. the banking system could not create money. b. there would be no effect on the ability of the banking system to create money. c. banks would loan out its required reserves. d. banks would be highly susceptible to bank runs. e. the banking system would realize the money multiplier.
An opponent of monetary policy decisions by rule would point to which of the following as support of his case?
a. time inconsistency of policy b. flexibility to confront unforeseen circumstances c. political business cycle d. the ability to craft rules that account for all possible contingencies in advance
If a nation wants to get the most out of its resources, each productive assignment should be carried out by those persons who
What will be an ideal response?