When a monopoly is regulated it is required to sell lower output at a lower price
a. True
b. False
Indicate whether the statement is true or false
False
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To think at the margin means to consider
A) how people behave in their own self-interest. B) how a small change in one variable affects another variable. C) how people will decide what to purchase. D) how nothing remains constant over time.
In which of the following ways does government affect the consumption component of planned aggregate expenditures?
a. Through net taxes, which change disposable income b. By purchasing goods and services, which increase consumption c. By using subsidies to encourage firms to invest d. By reducing the interest rate to encourage firms to invest e. By producing public goods
Which of the following is an outcome of advertising for a monopolistically competitive firm?
a. Long-run average costs shift upward. b. The firm's demand curve keeps the same slope and shifts inward. c. Long-run average costs shift downward. d. The firm's demand curve becomes flatter and shifts inward.
A year-long drought that destroys most wheat crops for the season would shift the:
A. short-run aggregate supply curve only. B. aggregate demand curve only. C. aggregate demand curve, and the short-run aggregate supply curve would shift in response. D. short-run aggregate supply curve and the long-run aggregate supply curve.