If some non-price level determinant causes total spending to increase, then the effect on aggregate demand will be a:
a. movement upward along the curve
b. movement downward along the curve.
c. shift to the left.
d. shift to the right.
d
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Suppose the market for hot pretzels in New York City is perfectly competitive. What is true of demand in this market?
a. The demand curve facing each seller is perfectly elastic. b. The demand curve facing each seller is perfectly inelastic. c. The market demand curve is perfectly elastic. d. The market demand curve is perfectly inelastic. e. The market demand curve is elastic.
For every firm that faces a downward-sloping demand curve for its output,
a. marginal cost exceeds marginal revenue at all output levels b. marginal revenue equals the price of the last unit sold c. marginal revenue is less than the price of the last unit sold d. marginal revenue exceeds the price of the last unit sold e. marginal cost exceeds the price of the last unit sold
Poverty is found to be correlated with
a. age and race but not family composition. b. race only. c. race and family composition but not age. d. age, race, and family composition.
The heart of the supply-side economic program was to
A. raise taxes. B. lower taxes. C. raise government spending. D. put people to work in government jobs.