Figure 4.5 illustrates a set of supply and demand curves for hamburgers. An increase in supply and an increase in demand are represented by a movement from:
A. point d to point b.
B. point d to point a.
C. point c to point a.
D. point b to point c.
Answer: A
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Of the following, the largest component of GDP is
A) personal consumption expenditure. B) gross private domestic investment. C) government expenditure on goods and services. D) net exports of goods and services.
Refer to Scenario 7.1. Which piece of information would NOT be helpful in calculating the marginal cost of the 75th unit of output?
A) The total cost of 75 units B) The total cost of 74 units C) The variable cost of 75 units D) The variable cost of 74 units E) The firm's fixed cost
A corporation's _____ can sometimes influence its decisions without making efforts to replace its management
a. hierarchy b. specialized workforce c. small shareholders d. block holders
According to the quantity theory of money, if the monetary authorities allow the money supply to grow at a rate of 6 percent in an economy that is growing by 2 percent in real terms, then inflation will be:
A. 4 percent. B. 6 percent. C. 8 percent. D. 2 percent.