A decrease in the degree a good is liked (the increase in the taste for a good) would
A. move its demand curve to the right.
B. cause a movement along the demand curve to a (lower price, higher quantity) point.
C. move its demand curve to the left.
D. cause a movement along the demand curve to a (higher price, lower quantity) point.
Answer: C
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A trade-off between unemployment and inflation is reflected in the
A) economic stability. B) nonaccelerating inflation rate of unemployment (NAIRU). C) natural rate of unemployment. D) Phillips Curve.
Exhibit 30-3 Costs of Eliminating:Firm A Firm B Firm C 1st ton of pollution$ 30 $ 50 $ 600 2nd ton of pollution$ 70 $ 90 $ 700 3rd ton of pollution$125 $150 $ 900 4th ton of pollution$200 $250 $1,300 Refer to Exhibit 30-3. What is the cost to Firm B of eliminating 2 tons of pollution?
A. $350 B. $250 C. $300 D. $140 E. $540
In the long run in monopolistic competition,
a. economic profits are zero. b. P = MC. c. P = minimum ATC. d. firms have an incentive to leave. e. the demand curve is tangent to the MC curve.
Fiscal policy is the use of government purchases and taxes to alter RGDP and the price level
a. True b. False Indicate whether the statement is true or false